[nodejs] Module pattern feedback

Hi all,

I've been meaning to post this up, as it's a pattern I've been using with
any modules that act as a wrapper to something.
I just wanted to get some feedback, as I haven't seen this explicitly
anywhere, and I am curious if I may be causing problems down the line.

I have quite a few apps, which all share a common set of libraries, in a
package; ie: logging, configuration, database, etc.
I'll take logging as an example, I use bunyan.

exports.init = function(opts) {

// Do something with options
// There's a bunch of stuff for different streams to different services

var logger = bunyan.createLogger(...);
module.exports = logger;
}

Then in the app initialization:

require('package/lib/logger').init({ ... });

And now in some other module:

var logger = require('package/lib/logger');

logger.debug(...);

Basically replacing the exports with the instance, and then it can be
called from anywhere, and accessed.
So my question would be - aside from losing the ability to re-initialize
(these should theoretically only be initialized once) - is there any
downside to this pattern; in terms of memory or efficiency?

Nabeel