Constellation Energy Partners LLC (CEP)

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Constellation Energy Partners’ Borrowing Base Increased to $70 Million



HOUSTON--(BUSINESS WIRE)--May 6, 2014-- Constellation Energy Partners LLC (NYSE MKT: CEP) today reported that its lenders have completed a semi-annual review of the company’s borrowing base pursuant to the terms of its reserve-based credit facility. Based on this review, the borrowing base has been increased from $55.0 million to $70.0 million.

Borrowings outstanding under the company’s reserve-based credit facility currently total approximately $52.0 million, leaving the company with approximately $18.0 million in borrowing capacity. The company maintained $2.9 million in cash and equivalents as of May 5, 2014.

Additional details concerning the company’s reserve-based credit facility can be found in the company’s filings with the Securities and Exchange Commission and on the company’s Web site (http://www.constellationenergypartners.com).