Highlights of the Credit Facility are listed below:
- Four year term (matures
June 28, 2027 ) - Initial borrowing base of
$35 million , supported by the Company’s upstream assets inPennsylvania , with semi-annual redeterminations - Initial commitments of
$35 million - Interest is charged on drawdowns at the Daily Simple SOFR rate plus a margin of 3.25%, payable quarterly
“Our new credit facility includes attractive commercial terms and covenants that will enable us to flexibly deploy incremental capital to attractive opportunities within our existing asset base and potential future acquisitions, to the benefit of our shareholders,” commented
About Epsilon
Forward-Looking Statements
Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated. Forward-looking statements are based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
Contact Information:
281-670-0002
Chief Executive Officer
Jason.Stabell@EpsilonEnergyLTD.com
Chief Financial Officer
Andrew.Williamson@EpsilonEnergyLTD.com
Source:
2023 GlobeNewswire, Inc., source