Dune Energy Amends Credit Facility
Dune Energy has entered into an amended credit agreement which provides for a commitment of up to $50 million, consisting of an initial commitment of $30.2 million, of which $16.5 million was drawn by Dune on September 27, 2006.
Alan Gaines, Dune's Chairman and CEO stated "this facility enables Dune to aggressively develop our Barnett Shale and south Louisiana Bayou Couba properties, and to fund the purchase of additional properties within our core areas of operations. This is an important step in the evolution of Dune into a substantial, focused operating company."
Dune is a rapidly growing oil and gas exploration and production company with operations presently concentrated along the Louisiana/Texas Gulf Coast as well as the Fort Worth Basin Barnett Shale.
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