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Stock impact report

SM ENERGY'S LENDER GROUP UNANIMOUSLY REAFFIRMS BORROWING BASE AND APPROVES AMENDMENT TO CREDIT AGREEMENT [Yahoo! Finance]

SM Energy Company (SM) 
Last sm energy company earnings: 2/19 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.sm-energy.com
Company Research Source: Yahoo! Finance
semi-annual borrowing base redetermination under its reserves-based revolving credit facility. In connection with the redetermination, the lender group reaffirmed the borrowing base at $3.0 billion and the elected commitment amount remained unchanged at $2.0 billion. The Company also announced an amendment to its existing Credit Agreement, which replaces the prior springing maturity provision with a more flexible structure based on short-term debt and borrowing availability. Executive Vice President and Chief Financial Officer Wade Pursell commented: "We're pleased with the reaffirmed borrowing base and unchanged commitment levels, which—alongside the amended terms—reflect our banking partners' continued trust in SM Energy's disciplined strategy and financial strength." ABOUT THE COMPANY SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and NGLs in the states of Texas and Utah. SM Show less Read more
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