Spyglass Resources Corp. announced that effective September 3, 2015, the Company's credit facility of $197.1 million consists of a $100 million syndicated borrowing base facility with $77 million currently utilized, and a syndicated reducing term facility with $97.1 million currently outstanding. The syndicated borrowing base facility is reviewed semi-annually and is subject to redetermination upon the disposition of assets, commodity price changes and other factors.

Both facilities have a May 29, 2016 maturity date. The Company's credit facility has been amended to stipulate that a $35 million reduction to the reducing term facility be completed on or prior to November 30, 2015 and further reduced to $25 million by January 31, 2016. The reducing term facility is expected to be decreased through recapitalization and asset divestiture activities.