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Saturn Oil & Gas Inc. Announces Extension of Credit Facility
Calgary, Alberta--(Newsfile Corp. - July 2, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX:...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Oil & Gas Inc. Announces Extension of Credit FacilityCalgary, Alberta--(Newsfile Corp. - July 2, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (\"Saturn\" or the \"Company\"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce the renewal of the Company's existing $150 million syndicated credit facility (the \"Credit Facility\") following the semiannual borrowing base review, with an added and uncommitted accordion feature allowing for a $100 million expansion of the Credit Facility up to $250 million in total, subject to certain conditions. The Credit Facility remains fully undrawn.\"This renewed and enhanced Credit Facility supports Saturn's disciplined approach to managing our balance sheet, providing ample liquidity for the ongoing development of our light-oil weighted assets,\" said John Jeffrey, CEO of Saturn. \"With approximately $80 million of cash exiting Q1 2025 combined with this undrawn Credit Facility, we remain well positioned to further advance our blueprint strategy. We would like to thank our lenders for their continued support and confidence in Saturn.\"The terms of the amended Credit Facility reflect the Company's healthy financial position, provide Saturn with ample financial flexibility to execute on our strategic blueprint, and support the continued development and optimization of our low-decline, profitable and light oil weighted asset base. National Bank of Canada led the Credit Facility, which includes ATB Financial and Goldman Sachs Bank USA and is comprised of a $100 million reserve-based credit facility and a $50 million operating facility. The Credit Facility is a committed facility subject to a semi-annual borrowing base redetermination occurring on or before June 30th and November 30th of each year. The $100 million accordion feature is not subject to fees until drawn. ABOUT SATURN Saturn is a returns-driven Canadian energy company focused on the efficient and innovative development of high-quality, light oil weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The Company's portfolio of free-cash flowing, low-decline operated assets in Saskatchewan and Alberta provide a deep inventory of long-term economic drilling opportunities...