RECENT DEVELOPMENTS	6 Months Ended
Jun. 30, 2014
RECENT DEVELOPMENTS
RECENT DEVELOPMENTS	NOTE L — RECENT DEVELOPMENTS On July 7, 2014, we agreed to acquire essentially all of the Marcellus assets (the ‘‘Marcellus Assets’’) of Citrus Energy Corporation (‘‘Citrus’’) and two other working interest owners in exchange for approximately 6.7 million shares of our common stock valued at $40 million and cash consideration of $312.5 million, subject to certain post-closing adjustments and certain closing conditions (the ‘‘Citrus Acquisition’’). The Citrus Acquisition will provide us a new area of operations in the Marcellus Shale in Pennsylvania in addition to our existing California and Wyoming assets. We completed the Citrus Acquisition on August 11, 2014. In addition, we entered into a five-year, Third Amended and Restated Credit Agreement with Bank of Montreal, as Administrative Agent (the “Amended Credit Facility”) in connection with the Citrus Acquisition on August 11, 2014, which provides for a maximum credit amount of $750 million and an initial borrowing base of $225 million. Other than the maximum credit amount and the initial borrowing base, the terms of our Amended Credit Facility are substantially similar to the terms of our Existing Credit Facility.

NOTE L — RECENT DEVELOPMENTS

On July 7, 2014, we agreed to acquire essentially all of the Marcellus assets (the ‘‘Marcellus Assets’’) of Citrus Energy Corporation (‘‘Citrus’’) and two other working interest owners in exchange for approximately 6.7 million shares of our common stock valued at $40 million and cash consideration of $312.5 million, subject to certain post-closing adjustments and certain closing conditions (the ‘‘Citrus Acquisition’’). The Citrus Acquisition will provide us a new area of operations in the Marcellus Shale in Pennsylvania in addition to our existing California and Wyoming assets. We completed the Citrus Acquisition on August 11, 2014.

In addition, we entered into a five-year, Third Amended and Restated Credit Agreement with Bank of Montreal, as Administrative Agent (the “Amended Credit Facility”) in connection with the Citrus Acquisition on August 11, 2014, which provides for a maximum credit amount of $750 million and an initial borrowing base of $225 million. Other than the maximum credit amount and the initial borrowing base, the terms of our Amended Credit Facility are substantially similar to the terms of our Existing Credit Facility.