Page 7 - Borrowing Base News Today

/PRNewswire/ -- Wilmington Trust, a leader in corporate and institutional trust services, today announced the addition of three senior relationship managers...

THE WOODLANDS, Texas, June 10, 2021 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that the borrowing base under its senior revolving credit facility (the “Credit Facility”) was successfully reaffirmed at its current level of $350 million. Key Highlights Reaffirmation of the borrowing base at $350 million;Easing of the minimum required oil hedges for calendar 2022 from 4,000 barrels per day (“B...

W&T Offshore announces enhancement to capital structure HOUSTON — W&T Offshore Inc. announced that it has enhanced its capital structure by entering into a transaction with its wholly-owned special purpose vehicles and Munich Re Reserve Risk Financing Inc. The company transferred 100% of its Mobile Bay Area producing assets and related gas treatment facilities to the SPVs in return for the net cash proceeds from a $215 million first-lien non-recourse term loan to the SPVs provided by MRRF....

Houston Wire & Cable Co. to sell Southwest Wire Rope division HOUSTON — Houston Wire & Cable Co. announced that it has entered into a definitive asset purchase agreement for the sale of its Southwest Wire Rope business for a purchase price of $5 million, subject to a working capital adjustment. The sale excludes about $2.6 million of trade accounts receivable, which HWCC will retain. HWCC expects to use the net sales proceeds and accounts receivable collections to further reduce Revolver d...