logo-loader

Ophir Energy lands new reserves based lending facility

Published: 18:08 21 Jun 2017 AEST

Offshore oil operations
The new facility has a seven year term

Ophir Energy Plc (LON:OPHR) has announced a new US$250mln reserves based lending (RBL) facility, replacing an existing facility which was due to mature in December 2019.

As well as the new RBL, which has a seven year term, the company noted it also has a further US$100mln available on an uncommitted ‘accordion’ basis.

"We are pleased to have the continued support from our key relationship banks and to welcome new lenders into the facility,” said Tony Rouse, chief executive.

“The combination of existing cash, this credit facility and cash flows from operations will provide the capital for Ophir to continue to invest to maximise the cash generation of its production and development portfolio."

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

6 hours, 53 minutes ago