Cano Petroleum repays bank debt with asset sale proceeds

By Sara Rosenberg

New York, Oct. 6 - Cano Petroleum Inc. repaid all borrowings under its senior credit facility using proceeds from the $42.1 million sale of Pantwist LLC to Legacy Reserves Operating LP, according to an 8-K filed with the Securities and Exchange Commission Monday.

The repayment was made on Oct. 1.

In addition, on Sept. 30, the company repaid in full its roughly $15.3 million subordinated credit agreement with UnionBanCal Equities Inc.

Cano Petroleum is a Fort Worth, Texas-based oil and natural gas company.

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