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/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 (“Bbls/d”) to 3,100 Bbls/d, which is fully covered b
W&T Offshore announces enhancement to capital structure HOUSTON â 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. Through its 100% ownership in the SPVs, W&T retains the upside value in the Mobile Bay Assets. A po...
Houston Wire & Cable Co. to sell Southwest Wire Rope division HOUSTON â 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 debt. HWCC has already reduced Revolver debt to about $21.4 million as of Jan. 13 from a peak of $95....