World News: 23:27 GMT Wednesday 15th May 2019. [Sundance Energy Australia Limited via Globe Newswire via SPi World News]
DENVER, May 15, 2019 (GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX: SEA) (NASDAQ: SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, today announced that the Company’s bank group had completed its regularly scheduled spring borrowing base redetermination, resulting in unanimous approval for a significant borrowing base increase and pricing reduction.
Sundance’s Chief Executive Officer and Managing Director, Eric McCrady, commented, “Sundance would like to thank its bank group for their continued support. This strong vote of confidence reflects the quality of our premier asset base and strong balance sheet, as well as our continued success in delivering outstanding well results through our development program. The Company’s pre-existing available liquidity was more than sufficient to support our development program through free cash flow production in the second half of the year. This substantial increase to our Borrowing Base will provide us with an even greater liquidity cushion and enable significant strategic flexibility.”
Globe Newswire: 23:27 GMT Wednesday 15th May 2019
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