Matador Resources increases credit facility Matador Resources announced that MRC Energy Company, a wholly-owned subsidiary of the Company, closed an amended and restated senior secured revolving credit agreement on September 28. Under the Credit Agreement, the borrowing base was increased to $200M, up from the previous borrowing base of $125M. The amendment increased the maximum facility size from $400M to $500M and named Royal Bank of Canada as Administrative Agent. The Credit Agreement matures in December 2016. The Company plans to use the increased borrowing capacity along with its operating cash flows for working capital and general corporate purposes and, in particular, to continue to execute its Eagle Ford drilling program in South Texas.
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