Spyglass Resources Corp. announced that following the company's semi-annual review by its lenders, the total credit facility, as amended, remains at $200 million. The credit facilities now consist of a $100 million syndicated borrowing base facility and a $100 million syndicated reducing term facility.

The syndicated borrowing base facility is reviewed semi-annually and both facilities currently have a May 29, 2016 maturity date. The reducing term facility is expected to be paid through recapitalization and asset divestiture opportunities and required to be reduced to $25 million by January 31, 2016. The company expects its interest rate in 2015 to average approximately 7.25%.