HOUSTON, Nov. 23 /PRNewswire-FirstCall/ -- Frontier Oil Corporation
(NYSE: FTO) announced that it has entered into an amended and restated
revolving credit agreement with a group of banks led by Union Bank of
California, N.A. and BNP Paribas. Commitments under the new working capital
facility increased to $225 million from $175 million to allow Frontier greater
flexibility in a prolonged high crude oil price environment. The facility is
secured by accounts receivable and inventory and is scheduled to mature on
June 16, 2008.
Frontier operates a 110,000 barrel-per-day refinery located in El Dorado,
Kansas, and a 46,000 barrel-per-day refinery located in Cheyenne, Wyoming, and
markets its refined products principally along the eastern slope of the Rocky
Mountains and in other neighboring plains states.
This press release includes "forward-looking statements" as defined by the
Securities and Exchange Commission. Such statements are those concerning
strategic plans, expectations and objectives for future operations. All
statements, other than statements of historical facts, included in this press
release that address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future are forward-
looking statements. These statements are based on certain assumptions made by
the Company based on its experience and perception of historical trends,
current conditions, expected future developments and other factors it believes
are appropriate in the circumstances. Such statements are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the control
of the Company. Investors are cautioned that any such statements are not
guarantees of future performance and that actual results or developments may
differ materially from those projected in the forward-looking statements.
SOURCE Frontier Oil Corporation
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Related links:
http://www.frontieroil.com
Company News On-Call:
http://www.prnewswire.com/comp/118801.html
CONTACT:
Doug Aron of Frontier Oil Corporation,
+1-713-688-9600 x145
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