Surge Energy US Holdings Company announces an increased borrowing base from $1.5 billion to $1.75 billion on the Company’s revolving credit facility.
The increase is in connection with the Credit Facility’s regularly scheduled semi-annual redetermination that recently closed. Elected commitments remained unchanged at $935 million.
“Surge appreciates the continued support from our bank group,” stated Chief Financial Officer James Welch. “We believe the results of this redetermination are another example of the quality of our people and the continued development and growth of our asset base.”
