Sanchez Production Partners LP (NYSEMKT:SPP) Files An 8-K Other EventsItem 8.01Other Events.
Borrowing Base Redetermination
On April 17, 2017 Sanchez Production Partners LP (the “Partnership”) received notification that to the terms of its credit facility its lenders have completed both their quarterly review of the midstream component and their semi-annual review of the RBL component of the Partnership’s borrowing base. Based on this review, the midstream component has been set at $168.1 million and the RBL component has been set at $47.5 million, resulting in a total borrowing base of $215.6 million. The elected commitment amount remains unchanged at $200.0 million.
About Sanchez Production Partners LP (NYSEMKT:SPP)
Sanchez Production Partners LP, formerly Sanchez Production Partners LLC, is focused on the acquisition, development, ownership and operation of midstream and other energy producing assets. The Company operates through two segments: the exploration and production of oil and natural gas, and the midstream business, which includes the Catarina gathering system. The Exploration and Production segment explores for and produces crude oil and natural gas. The Midstream segment operates the gathering, processing and transportation of crude oil, natural gas liquids (NGLs) and natural gas. The exploration and production business includes oil and natural gas reserves located in the Eagle Ford Shale in South Texas and in other areas of Texas and Louisiana, as well as properties in the Mid-Continent region. The Company’s total estimated proved reserves total over 11.6 million barrels of oil equivalent (MMBoe). It owns approximately 1,992 net producing wells. Sanchez Production Partners LP (NYSEMKT:SPP) Recent Trading Information
Sanchez Production Partners LP (NYSEMKT:SPP) closed its last trading session down -0.35 at 14.15 with 50,500 shares trading hands.
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