PetroQuest Cites Re-Determination of Borrowing Base
PetroQuest's bank group has completed its semi-annual re-determination of its borrowing base under its credit facility. As a result, the Company's $100 million borrowing base has been reaffirmed. The Company currently has no borrowings outstanding on its revolving credit facility and is in compliance with the financial covenants under the credit facility. The next re-determination of the borrowing base is scheduled to occur before March 31, 2011.
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