Oil, Gas and Consumable Fuels
Company Overview of MRC Energy Company
MRC Energy Company offers oil and gas exploration and production services. It was formerly known as Matador Resources Company and changed its name to MRC Energy Company on August 9, 2011. The company was founded in 2003 and is based in Dallas, Texas. MRC Energy Company operates as a subsidiary of Matador Resources Company.
One Lincoln Centre
5400 LBJ Freeway
Dallas, TX 75240
Founded in 2003
Key Executives for MRC Energy Company
MRC Energy Company does not have any Key Executives recorded.
MRC Energy Company Key Developments
MRC Energy Company Announces Third Amended and Restated Senior Secured Revolving Credit Agreement
Sep 8 14
MRC Energy Company entered into an amendment to the third amended and restated senior secured revolving credit agreement, dated as of September 28, 2012 and the company reaffirmed its guaranty of MRC Energy company's obligations under the Revolving Credit Agreement. The Amendment amends the Revolving Credit Agreement to increase the borrowing base from $385 million to $450 million based on the lenders' review of the company's proved oil and natural gas reserves at July 31, 2014 and to increase the conforming borrowing base from $310 million to $375 million.
MRC Energy Company Increases Credit Facility
Oct 10 12
Matador Resources Company announced that MRC Energy Company, a wholly-owned subsidiary of the company, closed an amended and restated senior secured revolving credit agreement on September 28, 2012. Under the Credit Agreement, the borrowing base was increased to $200 million, up from the previous borrowing base of $125 million. The amendment increased the maximum facility size from $400 million to $500 million and named Royal Bank of Canada as Administrative Agent. The Credit Agreement matures in December 2016. The company plans to use the increased borrowing capacity along with its operating cash flows for working capital and general corporate purposes and, in particular, to continue to execute its Eagle Ford drilling program in South Texas.
MRC Energy Company Enters an Amendment to Senior Secured Revolving Credit Agreement
Oct 4 12
MRC Energy Company, a wholly-owned subsidiary of Matador Resources Company entered into an amended and restated senior secured revolving credit agreement. This amendment increased the maximum facility amount from $400 million to $500 million and named Royal Bank of Canada as administrative agent. Under the credit agreement, the borrowing base was increased to $200 million, up from the previous borrowing base of $125 million. The credit agreement matures December 29, 2016. Borrowings under the credit agreement are guaranteed by the company and secured by mortgages on substantially all of the company's oil and natural gas properties and by the equity interests of all of the company’s wholly-owned subsidiaries, which are also guarantors. Various commodity hedging agreements with Royal Bank of Canada and Comerica Bank (or affiliates thereof) are also secured by the collateral and guaranteed by the company and the subsidiaries of the company.
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