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| Home : RMP Energy Provides Bank Credit Facility Update |
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Jun 04
2015 |
RMP Energy Provides Bank Credit Facility Update |
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CALGARY, ALBERTA--(Marketwired - June 3, 2015) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to announce today that its bank syndicate group (the "Lenders"), in accordance with the annual redetermination process, has reaffirmed the existing $175 million conforming borrowing base under RMP's revolving credit facility. The bank credit facility represents the maximum amount that can be borrowed and is primarily based on: the Lender's assessment and analysis of RMP's proved crude oil and natural gas reserves, the Company's results of operations, and the Lenders forecasted commodity prices. The borrowings under the bank credit facility are available on a fully-revolving basis for a period of at least 364 days until July 22, 2016, at which time RMP can request approval by the Lenders for an extension for an additional 364 day cycle. |
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| Source:http://www.marketwired.com/mw/release.do?id=2026341&sourceType=3 |
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