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Obsidian Energy Announces Extension of Syndicated Credit Facility Redetermination Date
Obsidian Energy Announces Extension of Syndicated Credit Facility Redetermination Date ...
About this update from Obsidian Energy Ltd
[{"type":"text","content":"\n\n\n\nObsidian Energy Announces Extension of Syndicated Credit Facility Redetermination Date\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, July 1, 2019\n\n\n\nCALGARY, July 1, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (\"Obsidian Energy\", the \"Company\", \"we\", \"us\" or \"our\") announces the Company's banking syndicate has extended the syndicated credit facility redetermination date until August 30, 2019 as we progress through the necessary provisions in regard to the Peace River Oil Partnership (\"PROP\") disposition and continue to evaluate the potential of an unsecured bond offering, which remains subject to market conditions and acceptable terms. The borrowing base under the syndicated credit facility continues to be $550 million with capacity of $460 million during the extension period. Obsidian Energy anticipates closing the PROP disposition on or about July 31, 2019.\nForward-Looking Statements \nCertain statements contained in this document constitute forward-looking statements or information (collectively \"forward-looking statements\"). Forward-looking statements are typically identified by words such as \"anticipate\", \"continue\", \"estimate\", \"expect\", \"forecast\", \"budget\", \"may\", \"will\", \"project\", \"could\", \"plan\", \"intend\", \"should\", \"believe\", \"outlook\", \"objective\", \"aim\", \"potential\", \"target\" and similar words suggesting future events or future performance. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: that we will continue to progress through the PROP disposition and evaluate the unsecured bond offering, subject to market conditions and acceptable terms; the expected borrowing base and capacity during the extension period; and the anticipated closing date of the PROP disposition. \nWith respect to forward-looking statements contained in this document, we have made assumptions regarding, among other things that we do not dispose of any material producing properties; that the current...