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Stock Market & Financial Investment News

News Breaks
December 26, 2012
09:18 EDTWRESWarren Resources borrowing base increased to $140M after Fall redetermination
Warren Resources announced that the syndicate of lenders underwriting the company's $300M senior secured credit facility has increased the conforming borrowing base to $140M as a result of completing the Fall 2012 semi-annual redetermination. As of December 26, Warren has $99.5M of debt outstanding under its Credit Facility, leaving $40.5M available. The next borrowing base redetermination is scheduled for May 2013. The company is in full compliance with all of its debt covenants under the Credit Facility.
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