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Rosetta Resources increases borrowing base to $950 million

Rosetta Resources Inc.

Rosetta Resources Inc. (Nasdaq: ROSE) reports the amendment of its senior revolving credit facility to increase its borrowing base. The semi-annual borrowing base redetermination was recently completed for the credit facility and, effective April 2, the company's borrowing base increased from $800 million to $950 million.

The committed amount under the credit facility was reconfirmed at $800 million with a maximum credit amount of $1.5 billion. As of April 2, Rosetta Resources had $60 million outstanding under the credit facility.

Rosetta Resources is an independent exploration and production company engaged in the acquisition and development of onshore unconventional resource plays in the US. It owns well delineated positions in the Eagle Ford shale play in South Texas and in the Permian Basin.

 

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