ROCC - Ranger Oil expands borrowing base under credit facility to $950M
- Ranger Oil ( NASDAQ: ROCC ) has announced an increase in its borrowing base under its revolving credit facility to $950M.
- This is the third announced increase year-to-date, totaling ~60%.
- Ranger ( ROCC ) chose to increase its elected commitment amount by 25% to $500M, consistent with its commitment to maintain robust liquidity while executing its business plan to profitably grow, capture accretive acquisitions and return significant cash to shareholders.
- As of Sept 26, 2022, the company had $400M of senior unsecured notes and ~$192M drawn, net of cash, on its revolving credit facility, reflecting the closing of previously announced bolt-on acquisitions.
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Ranger Oil expands borrowing base under credit facility to $950M