WildHorse increases credit facility borrowing base to $1.05 billion

By Sarah Lizee

Olympia, Wash., March 27 – WildHorse Resource Development Corp. amended its credit agreement to increase the borrowing base to $1.05 billion from $875 million and increase the total elected commitment amounts to $1.05 billion.

The company entered into the fourth amendment with Wells Fargo Bank, NA as administrative agent on Friday, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus a margin that ranges from 175 basis points to 275 bps, and the commitment fee ranges from 37.5 bps to 50 bps, depending on the commitment use percentage.

Additionally, the amendment permits the company’s sale of its North Louisiana property to Tanoc Energy Holdings III, LLC.

WildHorse is an oil and natural gas company based in Houston.

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