London-based Ophir Energy on Wednesday said it has signed a $250 million reserve based lending facility with a group of banks.
In addition to the $250 million of committed funds, secured against the company’s Southeast Asia producing assets, a further $100 million is available on an uncommitted accordion basis.
The facility matures on June 30, 2024, and replaces Ophir’s existing RBL facility which matures in December 2019.
The facility has been provided by Australia and New Zealand Banking Group Limited, BNP Paribas, Commonwealth Bank of Australia, Crédit Agricole, HSBC, Société Générale and Standard Chartered.