March 27, 2017 9:46 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Sprague Operating Resources LLC

Company Overview

Sprague Operating Resources LLC owns and operates oil terminals that supply natural gas, coal, and petroleum products. The company was incorporated in 1987 and is based in Portsmouth, New Hampshire. Sprague Operating Resources LLC operates as a subsidiary of Sprague Resources LP.

185 International Drive

Portsmouth, NH 03801

United States

Founded in 1987

Phone:

603-430-7254

Fax:

603-430-5317

Key Executives for Sprague Operating Resources LLC

Sprague Operating Resources LLC does not have any Key Executives recorded.

Sprague Operating Resources LLC Key Developments

Sprague Operating Resources LLC and Kildair Services ULC and Other Financial Institutions Enters into Amendment to Amended and Restated Credit Agreement

On March 10, 2016, Sprague Operating Resources LLC and Kildair Services ULC, the several banks and other financial institutions party thereto and JP Morgan Bank, N.A., in its capacity as administrative agent, entered into an Amendment (the Credit Agreement Amendment) to that certain Amended and Restated Credit Agreement by and among the Borrowers, the banks and financial institutions party thereto and the Administrative Agent, dated as of December 9, 2014. The Credit Agreement Amendment increased the Credit Agreement's acquisition facility from $400.0 million to $550.0 million. The Credit Agreement Amendment also made a number of discrete modifications to the Credit Agreement including changes to elements of the borrowing base to reflect the Borrowers' increased use of certain forward contracts and to accommodate payment patterns of customers in certain markets, changes to certain financial definitions to reflect the Borrowers' restructuring of its ownership of Wintergreen Transport Corporation ULC, amendments to the leverage covenants to allow for temporary increases in leverage for six months following material acquisitions, and changes to the capital expenditures covenant to allow for additional acquisitions.

Sprague Operating Resources LLC and Kildair Services ULC Announce Amendment to Amended and Restated Credit Agreement

On March 10, 2016, Sprague Operating Resources LLC and Kildair Services ULC, the several banks and other financial institutions party thereto and JP Morgan Bank, N.A., in its capacity as administrative agent, entered into an Amendment to that certain Amended and Restated Credit Agreement by and among the Borrowers, the banks and financial institutions party thereto and the Administrative Agent, dated as of December 9, 2014. The Credit Agreement Amendment increased the Credit Agreement's acquisition facility from $400.0 million to $550.0 million. The Credit Agreement Amendment also made a number of discrete modifications to the Credit Agreement including changes to elements of the borrowing base to reflect the Borrowers' increased use of certain forward contracts and to accommodate payment patterns of customers in certain markets, changes to certain financial definitions to reflect the Borrowers' restructuring of its ownership of Wintergreen Transport Corporation ULC, amendments to the leverage covenants to allow for temporary increases in leverage for six months following material acquisitions, and changes to the capital expenditures covenant to allow for additional acquisitions.

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