WildHorse Resource Development’s (ticker: WRD) existing borrowing base under its $1.0 billion multi-year revolving credit facility was increased by its 15-lender bank group to $450 million from $362.5 million, the company announced today.
WRD’s revolving credit facility matures in December 2021. The financial covenants were unchanged, the company said in a statement.
Wildhorse is active in the Eagle Ford and North Louisiana Cotton Valley trend. The company went public with an IPO in December that netted just under $400 million. In January the company raised $350 million in an offering of senior notes.
Source: WildHorse Resource Development
“With an increase in the borrowing base, WRD has even more flexibility in funding its 2017 development program,” WildHorse Chairman and CEO Jay Graham said in a statement.
