Constellation Energy Partners Borrowing Base Set at $90 Million
April 20 2012 - 4:15PM
Business Wire
Constellation Energy Partners LLC (NYSE Amex: CEP) today
reported that its lenders have completed a semi-annual review of
the company’s borrowing base pursuant to the terms of its
reserve-based credit facility. Based on this review, the borrowing
base has been set by the lenders at $90 million.
Borrowings outstanding under the company’s reserve-based credit
facility currently total $88.4 million, leaving the company with
$1.6 million in borrowing capacity. The company maintained $5.7
million in cash and equivalents as of April 19, 2012.
Additional details concerning the company’s reserve-based credit
facility can be found in the company’s filings with the Securities
and Exchange Commission and on the company’s Web site
(http://www.constellationenergypartners.com).
About the Company
Constellation Energy Partners LLC is a limited liability company
focused on the acquisition, development and production of oil and
natural gas properties, as well as related midstream assets.
Forward-Looking Statements
We make statements in this news release that are considered
forward-looking statements within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934. These
forward-looking statements are largely based on our expectations,
which reflect estimates and assumptions made by our management.
These estimates and assumptions reflect our best judgment based on
currently known market conditions and other factors. Although we
believe such estimates and assumptions to be reasonable, they are
inherently uncertain and involve a number of risks and
uncertainties that are beyond our control. In addition,
management's assumptions about future events may prove to be
inaccurate. Management cautions all readers that the
forward-looking statements contained in this news release are not
guarantees of future performance, and we cannot assure you that
such statements will be realized or the forward-looking events and
circumstances will occur. Actual results may differ materially from
those anticipated or implied in the forward-looking statements due
to factors listed in the "Risk Factors" section in our SEC filings
and elsewhere in those filings. All forward-looking statements
speak only as of the date of this news release. We do not intend to
publicly update or revise any forward-looking statements as a
result of new information, future events or otherwise. These
cautionary statements qualify all forward-looking statements
attributable to us or persons acting on our behalf.
Evolve Transition Infras... (AMEX:SNMP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Evolve Transition Infras... (AMEX:SNMP)
Historical Stock Chart
From Jul 2023 to Jul 2024