DENVER, May 23, 2013 (GLOBE NEWSWIRE) -- PDC Energy, Inc. ("PDC" or the "Company") (Nasdaq:PDCE) today announced that on May 21, 2013, the Company entered into its third amended and restated credit agreement with its current group of lenders led by JPMorgan Chase Bank, N.A., as Administrative Agent. The new facility maintained the Company's borrowing base at $450 million post the planned divestiture of non-core Colorado natural gas assets, subject to normal semi-annual redetermination, and extended the maturity date by approximately two and one-half years to May 21, 2018. The new facility also amends certain other provisions, including a reduction of the applicable interest rate on its borrowing options and increased flexibility for hedging positions related to the Company's expected production.
PDC Energy Extends Maturity Of Its Revolving Credit Facility To 2018 With Post-Divestiture Borrowing Base Of $450 Million
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