Sanchez Energy lifts credit agreement borrowing base to $400 million

By Tali Rackner

Norfolk, Va., March 5 - Sanchez Energy Corp. increased the borrowing base on its amended and restated credit agreement via Royal Bank of Canada to $400 million, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the amendment, effective Feb. 28, adds an elected commitment amount accepted by the borrowers of $325 million and ties the commitment fee to the use of commitments. It also provides for other technical amendments and certain transactions.

Houston-based Sanchez Energy is an oil and gas exploration and development company.

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