SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 17, 2020
Sanchez Midstream Partners LP
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of
1360 Post Oak Blvd, Suite 2400
(Address of principal executive offices)
Registrant’s telephone number, including area code: (713) 783-8000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange on which registered
Common Units representing limited partner
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company◻
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01Other Events.
Borrowing Base Redetermination
On August 17, 2020, Sanchez Midstream Partners LP (the “Partnership”) received notification that, pursuant to the terms of the Ninth Amendment to Third Amended and Restated Credit Agreement (the “Credit Agreement”), its lenders have completed the quarterly review of the borrowing base for the Partnership’s midstream assets. Based on this review, the borrowing base has been set at $142.1 million. The Partnership’s current debt outstanding is $130.0 million, consisting of $125.0 million outstanding under the quarterly amortizing term loan and $5.0 million under the revolving loan.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SANCHEZ MIDSTREAM PARTNERS LP
By: Sanchez Midstream Partners GP LLC,
Date: August 19, 2020
/s/ Charles C. Ward
Charles C. Ward
Chief Financial Officer and Secretary