HOUSTON, Sept. 12, 2017 /PRNewswire/ -- Yuma Energy,
Inc. (NYSE American: YUMA) (the "Company" or "Yuma") today
announced that, as a result of its lenders' semiannual review, the
borrowing base under its revolving credit facility has been
reaffirmed at $40.5 million.
The next regularly scheduled borrowing base redetermination is
expected to occur on or about April 1,
2018.
About Yuma Energy, Inc.
Yuma Energy, Inc. is an independent Houston-based exploration and production
company focused on acquiring, developing and exploring for
conventional and unconventional oil and natural gas
resources. Historically, Yuma's operations have focused on
onshore properties located in central and southern Louisiana and southeastern Texas where it has a long history of drilling,
developing and producing both oil and natural gas assets. More
recently, Yuma has begun acquiring acreage in Yoakum County, Texas, with plans to explore
and develop oil and natural gas assets in the Permian Basin.
Finally, Yuma has operated positions in Kern County, California, and non-operated
positions in the East Texas Woodbine and the Bakken Shale in
North Dakota. Yuma's common stock
is listed on the NYSE American under the trading symbol "YUMA."
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"). Statements that are
not strictly historical statements constitute forward-looking
statements and may often, but not always, be identified by the use
of such words such as "expects," "believes," "intends,"
"anticipates," "plans," "estimates," "potential," "possible," or
"probable" or statements that certain actions, events or results
"may," "will," "should," or "could" be taken, occur or be achieved.
The forward-looking statements include statements about future
operations, and estimates of reserve and production volumes.
Forward-looking statements are based on current expectations and
assumptions and analyses made by the Company in light of experience
and perception of historical trends, current conditions and
expected future developments, as well as other factors appropriate
under the circumstances. However, whether actual results and
developments will conform with expectations is subject to a number
of risks and uncertainties, including but not limited to: the
risks of the oil and gas industry (for example, operational risks
in exploring for, developing and producing crude oil and natural
gas); risks and uncertainties involving geology of oil and natural
gas deposits; the uncertainty of reserve estimates; revisions to
reserve estimates as a result of changes in commodity prices; the
uncertainty of estimates and projections relating to future
production, costs and expenses; potential delays or changes in
plans with respect to exploration or development projects or
capital expenditures; health, safety and environmental risks and
risks related to weather; further declines in oil and natural gas
prices; inability of management to execute its plans to meet its
goals, shortages of drilling equipment, oil field personnel and
services, unavailability of gathering systems, pipelines and
processing facilities and the possibility that government policies
may change. The Company's annual report on Form 10-K for
the year ended December 31, 2016,
recent quarterly reports on Form 10-Q, recent current reports on
Form 8-K, and other Securities and Exchange Commission filings
discuss some of the important risk factors that may affect its
business, results of operations, and financial condition. The
Company undertakes no obligation to revise or update publicly any
forward-looking statements, except as required by law.
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SOURCE Yuma Energy, Inc.