[Context: On September 26, Pin Oak Energy Partners announced an increase to its borrowing capacity to $150m. The company is focused on the Appalachian Basin. Further details and related links are below.]
Pin Oak Energy Partners Announces Bank Credit Facility Increase to $150 MM
AKRON, Ohio–September 26, 2017–(BUSINESS WIRE)–Pin Oak Energy Partners LLC (Company or Pin Oak Energy) announces that CrossFirst Bank has reaffirmed the Company’s borrowing base while extending and increasing Pin Oak Energy’s Credit Facility size to $150 MM.
“We are pleased by the vote of confidence from CrossFirst Bank in the management team of the Company and overall direction of Pin Oak Energy with this extension and increase to our bank credit facility. Our facility with CrossFirst Bank is well positioned to help Pin Oak continue our growth through acquisitions and through the drill bit,” says Christopher Halvorson, CEO of Pin Oak Energy.
CrossFirst Bank’s Energy Banking Partner, Wes Webb, stated, “Pin Oak has a highly experienced management team with a proven track record of growing high-quality oil & gas companies. We are excited to strengthen and continue our relationship with Pin Oak Energy.”
About Pin Oak Energy
Pin Oak Energy Partners LLC is an Appalachian Basin energy company engaged in the exploration and production of conventional and unconventional oil and natural gas wells and the operation of associated assets. The Company currently operates 363 wells producing nearly 5.7 MMcfe/d (32% liquids) across more than 32,000 acres and is also involved in midstream, field services and operations through its affiliate companies.