Eagle Rock Reaffirms Upstream Borrowing Base
Eagle Rock Energy Partners, L.P. announced that the upstream component of the borrowing base under its senior secured credit facility has been reaffirmed at $375 million by its commercial lenders as part of the Partnership's regularly scheduled semi-annual upstream borrowing base redetermination.
The Partnership's total borrowing base, including its midstream component and giving effect to the new upstream component, is approximately $693 million. Total commitments under the senior secured credit facility remain unchanged at $675 million.
The upstream component of the Partnership's borrowing base is redetermined semi-annually effective April 1 and October 1, while the midstream component is calculated quarterly with delivery of the Partnership's financial statements.