Crescent's amendment permits funding for its planned Devon asset purchase, but it also expects $144 million in cash payments on commodity contracts for the quarter. The new borrowing is only permitted, not reported as taken, so the filing does not clearly change Crescent's outlook.
The extra borrowing options could help Crescent complete the asset purchase, but they are permissions, not money already borrowed. Crescent also expects cash payments on commodity contracts. Together, the filing's facts do not clearly change Crescent's outlook.
Crescent's credit amendment allows funding for its planned purchase of Devon's Eagle Ford assets. The filing gives no sale price or completed sale result, so it does not show a clear change for Devon.
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