W&T Offshore Completes Conversion of Revolving Credit Facility to Reserve-Based Lending Structure, Enhancing Financial Flexibility
W&T Offshore, Inc. has amended its credit agreement to convert its $50 million revolving credit facility into a conventional reserve-based lending (RBL) facility. This change removes restrictive covenants such as cash sweep and clean-down requirements, increases borrowing capacity potential up to $100 million, and raises the annual restricted payme…