Reserves are likely not considered as it is a covenant based lending facility.
Only real lending determinants in that case are cash flow, debt, market cap, or any other balance sheet tests that are required for the purpose of remaining onside the covenants prescribed.
Smaller borrowers (ie usually below 40,000 boe/d) will have their lending facilities tied closely to reserves, production, and commodity prices.
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Pylon on the Edmonton Oilers:
"I am actually more excited for the Oilers game tomorrow than the Flames game. I am praying for multiple jersey tosses. The Oilers are my new favourite team for all the wrong reasons. I hate them so much I love them."
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