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Further, the company continues making progress on its debt reduction plan, which would see it pay down $1.4 billion in borrowings by early 2019 and push leverage from 4.7 times debt to EBITDA down to.
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In addition to that the company noted that its banking group affirmed its borrowing base at $575 million. was noteworthy because of how Parsley Energy planned to pay for it. To fund that deal the.
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That coverage level is well above the peer group average of 1.4 times. The one knock against Summit Midstream is that it owes its parent $303.5 million for an acquisition the two completed a few years.
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