On October 14, 2022, East West Bank, Sole Lead Arranger and Sole Book Runner, together with the lender group closed on three senior secured revolving line of credit facilities for Sheridan III. The new facilities will be used to refinance existing debt, support the development and future acquisition of oil and gas properties, working capital needs and other general corporate purposes.
Sheridan Production Partners is a Houston-based company committed to excellence in the acquisition, operation and development of oil and gas properties within the United States. Their strategy is to identify and acquire high quality producing assets, implement operational improvements, efficiently reinvest free cash flow and engage in strategic partnerships to improve returns for their partners. The Company currently operates properties in East Texas.
“East West Bank is excited at the opportunity to lead these new credit facilities for Sheridan III. We are honored to further support and grow our relationship with the Sheridan team for years to come” said Andy Long, Vice President of East West Bank’s National Energy Finance Group. East West Bank’s National Energy Finance group is based in Dallas TX and focuses on lending and financial services to middle market upstream and midstream companies.
Lenders were represented by Winstead PC out their Dallas office. Borrowers were represented by Hunton Andrews Kurth out of their Dallas office.