Contango Oil & Gas continues talks to refinance credit facility

By Wendy Van Sickle

Columbus, Ohio, June 18 – Contango Oil & Gas Co. continues discussions with interested parties about a refinancing or replacement of its credit facility, which matures on Oct. 1, 2019, according to an 8-K filing with the Securities and Exchange Commission.

Such a refinancing or replacement of the credit facility could occur in conjunction with an issuance of unsecured or non-priority secured debt or preferred or common equity, non-core property monetization, potential monetization of certain midstream and/or water handling facilities or a combination of those, according to the filing.

The company also announced the borrowing base under its revolver was reset at $85 million with a current availability limit of $75 million.

The change was made under the regularly scheduled redetermination process for the facility effective June 17.

Houston-based Contango is an oil and natural gas exploration company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.