PetroQuest Energy Announces Amendment to Credit Agreement and Increase to Borrowing Base From $100M to $125M
PetroQuest Energy, Inc. (NYSE: PQ) announced today that the Company has amended the credit agreement with its bank group extending the maturity date from October 2013 to October 2016. In connection with the amendment, the Company's lenders completed their semi-annual redetermination of the borrowing base under the revolving credit facility and increased the borrowing base from $100 million to $125 million, subject to the aggregate commitments of the lenders, which presently total $100 million at the Company's request.
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