We already know about $2 Billion + war chest. Now GPOR is getting primed.
On December 27, 2013, Gulfport Energy Corporation (the "Company"), as borrower, entered into an Amended and Restated Credit Agreement with The Bank of Nova Scotia, as administrative agent, sole lead arranger and sole bookrunner, Amegy Bank National Association, as syndication agent, KeyBank National Association, as documentation agent, and the other lenders party thereto (the "Amended and Restated Credit Agreement"), which amends and restates in its entirety the Company's existing Credit Agreement, dated as of September 30, 2010, as amended. The Amended and Restated Credit Agreement provides for an increase in the maximum facility amount from $350 million to $1.5 billion, with an increase in borrowing base availability as of December 27, 2013 from $50 million to $150 million. The Amended and Restated Credit Agreement matures on June 6, 2018.
Certainly is good news. Hopefully land prices follow suit. Got some positive forces brewing. Gas being firm. Infrastructure coming online. Aubrey having cash in his pocket. Positive reviews from the recent quarterly well reports. We just need a buyer for a few tracts and the news finally has stopped being gloomy. The chart on the right is unrecognizable as EVEP ;-)