SM Energy Co. amended its credit agreement with a group of banks, which provides the Colorado-based oil and gas producer up to $2.5 billion in credit.
The senior secured revolving credit facility is backed by all of SM Energy's proved oil and natural gas assets. The facility has $1.0 billion in total initial lender commitments and an initial borrowing base of $1.5 billion, according to an Oct. 4 SEC filing. Its maturity date is Sept. 28, 2023, or earlier depending on certain conditions.
The lenders involved in the agreement are led by Wells Fargo Bank NA as administrative agent.