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Creditors set Sanchez Midstream Partners' borrowing base at $303.1M

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Creditors set Sanchez Midstream Partners' borrowing base at $303.1M

Houston-based Sanchez Midstream Partners LP's total borrowing base under its credit facility was set at $303.1 million following reviews conducted by the participating creditors.

The lenders set the midstream component of the borrowing base at $278.1 million following a quarterly review of the component, according to a Jan. 7 SEC filing. The reserve based-lending component, on the other hand, was set at $25.0 million after its semiannual review.

The elected commitment amount is kept at $210 million, according to the filing.

Sanchez Midstream Partners is a limited partnership with ownership stakes in oil and natural gas gathering systems, natural gas pipelines and a natural gas processing facility, all in the western Eagle Ford Shale in south Texas.