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Talos Energy decreases borrowing base to $985 million
Chicago, June 22 – Talos Energy Inc. announced that it has decreased its borrowing base to $985 million from $1.15 billion, or about 14%, according to a news release.
As of May 31, the company had $121 million of cash on hand and $650 million drawn of the $985 million borrowing base.
The company increased the credit facility in March to $1.15 billion at the same time as it drew down on its revolver to fund most of the cash consideration of its acquisition of affiliates of ILX Holdings.
Talos is a Houston-based oil and gas company.
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