DENVER, May 9 (Bernama-GLOBE NEWSWIRE) -- Sundance
Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the
“Company”), a U.S. onshore oil and gas exploration and production
company focused in the Eagle Ford in South Texas, announced it has
closed the previously announced divestiture of its Oklahoma assets.
Sundance received $16.6 million after adjusting for cash flow from the
effective date through closing date and other customary adjustments to
the purchase price.
Simultaneously with closing the divestiture,
Sundance’s borrowing base was re-affirmed at $67 million by Morgan
Stanley. The revolver matures in May 2020 and the $125 million term
loan matures in November 2020.
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