8th Apr 2021 10:01
(Alliance News) - Diversified Gas & Oil PLC stated on Thursday that its bank lending group has reaffirmed its existing USD425 million borrowing base.
The bank lending group led by KeyBank National Association said the senior secured credit facility would have no changes to pricing, covenants or other material terms after completing the credit facility's semi-annual redetermination.
"The reaffirmation solidifies our liquidity as we continue to evaluate opportunities to create stakeholder value by enlarging our portfolio of producing and midstream assets over which we can deploy our Smarter Asset Management programmes," commented Chief Executive Rusty Hutson, Jr.
The FTSE 250 firm's next scheduled redetermination will occur during the fourth quarter of 2021.
Shares in Diversified Gas & Oil were trading 0.2% lower at 113.60 pence in London on Thursday morning.
By Will Paige; [email protected]
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