Reserve-Based Credit Facility Amendment

On February 8, 2013, we entered into a third amendment to our reserve-based credit facility. Pursuant to the amendment, our lenders in the reserve-based credit facility will consent to the previously announced sale of our Robinson's Bend assets in the Black Warrior Basin of Alabama and the subsequent release of collateral associated with those assets. Upon the closing of the sale, our borrowing base will be $37.5 million and the maturity date of the facility will be extended to March 31, 2014.

The current lenders and their percentage commitments in the reserve-based credit facility are The Royal Bank of Scotland plc (26.84%), BNP Paribas (21.95%), The Bank of Nova Scotia (21.95%), Societe Generale (14.63%), and ING Capital LLC (14.63%). Each lender will receive a 5 basis point fee for the amendment. There are no other changes to the interest rates, covenants or other terms of our reserve-based credit facility as a result of this amendment.

The foregoing description of the Third Amendment to Amended and Restated Credit Agreement is qualified in its entirety by the actual amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

On February 12, 2013, Constellation Energy Partners LLC (the "Company") issued a press release announcing that the Company extended the maturity of its reserve-based credit facility to March 31, 2014, and that its lenders will consent to the Company's previously announced sale of the Robinson's Bend Field. The amendment to the reserve-based credit facility was an interim step towards the restructuring of the reserve-based credit facility to facilitate the closing of the Robinson's Bend Field asset sale. The Company also announced that it is currently working with prospective lenders on a new reserve-based credit facility and that it expects to close on the new facility in the second quarter of 2013.

A copy of the press release is furnished and attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 8.01 by reference.

(d) Exhibits.

  Exhibit
   Number                                   Description

Exhibit 10.1    Third Amendment to Amended and Restated Credit Agreement dated as
                of February 8, 2013, among Constellation Energy Partners LLC, as
                borrower, The Royal Bank of Scotland plc, as administrative agent,
                and the lenders party thereto.

Exhibit 99.1    Press release dated February 12, 2013, publicly announcing that the
                Company extended the maturity of its reserve-based credit facility
                to March 31, 2014, and that its lenders will consent to the
                Company's previously announced sale of the Robinson's Bend Field.