Matador Resources lifts revolver borrowing base, adds three lenders

By Marisa Wong

Madison, Wis., March 14 - Matador Resources Co.'s wholly owned subsidiary, MRC Energy Co., amended its amended and restated senior secured revolving credit agreement on March 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The amendment increases the borrowing base to $255 million from $215 million, based on the lenders' review of the company's proved oil and natural gas reserves at Dec. 31.

The conforming borrowing base was also increased to $220 million from $180 million.

In addition, Capital One, NA, BMO Harris Financing, Inc. (Bank of Montreal) and Iberiabank have been added as lenders, joining administrative agent Royal Bank of Canada, Comerica Bank, Citibank, NA, Bank of Nova Scotia and SunTrust Bank.

The amendment also delayed the first measurement of the current ratio by one year to March 31, 2014.

Matador is an oil and gas company based in Dallas.

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