Presently, DGOC has drawn borrowings of US$437mln from the facility.
The redetermination of the borrowing base comes shortly after DGOC’s US$200mln securitisation financing, completed in November.
“In addition to their lending capacity within the credit facility, these banks further enhance the suite of services available to DGO including long-tenor hedging capabilities suited to the Company’s long-life, low-decline asset base,” DGOC said in a statement.
The credit facility is priced, unchanged, at LIBOR plus 2.0% to 3.0% depending upon utilisation and it matures in 2023.
DGOC noted that the next redetermination is set for Spring 2020.