Magnolia increases limit on borrowing facility - Magnolia - TopicsExpress

Magnolia increases limit on borrowing facility - Magnolia Petroleum (LON:MAGP) said the borrowing limit on its credit facility had been raised to US$2.75mln from US$2.1mln previously. It comes after the recent increase in the value of the firms net attributable proved and developed producing reserves (PDP) to US$8.416 million, it said. Chief operating officer of the US focused onshore oil company Rita Whittington noted: This is the second increase in the borrowing b... ow.ly/2GVqDe

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