Ring Energy, Inc. Announces Results of Fall 2020 Redetermination of Its Senior Credit Facility
Share: Company Also Pays Down Revolver and Adds Additional Oil Hedges Ring Energy, Inc. (NYSEAM:REI) ("Ring" or the "Company") announced today the results of its fall 2020 redetermination of its $1 billion senior revolving credit facility ("Credit Facility"). The borrowing base was set at $350 million, or approximately 6.7% lower than its previous borrowing base of $375 million. The next regularly scheduled bank redetermination will be on or around May 1, 2021. Management also announced that the Company paid down an additional $45 million against the Credit Facility, or 12.5% from the $360 m...
Source: benzinga.com