WildHorse Resource Development Corporation (NYSE: WRD) today announced
that the existing borrowing base under its $1.0 billion multi-year
revolving credit facility was increased by its bank group, comprised of
15 lenders, to $450.0 million from $362.5 million following its fiscal
year-end reserves review and regularly scheduled semi-annual
redetermination. WRD’s revolving credit facility matures in December
2021, and the financial covenants were unchanged.
"The significant increase in proved reserves since the initial borrowing
base determination confirms the quality of WRD’s asset base," Jay
Graham, Chairman and Chief Executive Officer, said. "With an increase in
the borrowing base, WRD has even more flexibility in funding its 2017
development program. We look to continue prudently allocating capital
while maintaining a strong balance sheet and solid debt metrics."
About WildHorse Resource Development Corporation
WildHorse Resource Development Corporation is an independent oil and
natural gas company focused on the acquisition, exploration, development
and production of oil, natural gas and NGL properties primarily in the
Eagle Ford Shale in East Texas and the Over-Pressured Cotton Valley in
North Louisiana. For more information, please visit our website at www.wildhorserd.com.
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WildHorse Resource Development Corporation
Luis Mier, (713) 255-9327
Source: WildHorse Resource Development Corporation