Templar amends net leverage ratio covenant for five-year revolver

By Tali Rackner

Norfolk, Va., April 21 – Templar Energy LLC amended its five-year revolving credit facility on March 6 to revise the net leverage ratio covenant for the remainder of the term of the facility, according to a press release.

“Templar has moved quickly to react to the changes in the marketplace,” president and CEO David D. Le Norman said in the release.

“The renegotiation of our covenant, coupled with the reaffirmation of the borrowing base, has positioned the company to successfully navigate the current environment. We have improved our financial flexibility while maintaining ample liquidity for the foreseeable future. The focus for 2015 will continue to be efficient utilization of our capital and strengthening our balance sheet.”

In addition, the company reaffirmed the borrowing base at $625 million on April 1.

Templar Energy is an Oklahoma City-based exploration and production 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.