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WESTERN ENERGY SERVICES CORP. ANNOUNCES EXTENSION OF PAYMENT DUE DATE FOR SECOND LIEN CREDIT FACILITY
WESTERN ENERGY SERVICES CORP. ANNOUNCES EXTENSION OF PAYMENT DUE DATE FOR SECOND LIEN CRE...
About this update from Western Energy Services Corp.
[{"type":"text","content":"\n \n \n \n WESTERN ENERGY SERVICES CORP. ANNOUNCES EXTENSION OF PAYMENT DUE DATE FOR SECOND LIEN CREDIT FACILITY\n \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 Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Dec. 30, 2021\n \n /CNW/ - Western Energy Services Corp. (\"\n \n Western\n \n \") (TSX: WRG) announces that Alberta Investment Management Corporation (\"\n \n AIMCo\n \n \"), the lender under its second lien credit facility, has agreed to extend the due date for the payment of interest under the facility that Western would have been required to pay on\n \n January 4, 2022\n \n to\n \n February 28, 2022\n \n .\n \n \n Western is currently in discussions with its lenders with respect to potential transactions to provide long–term financial stability through the current challenging industry environment.  The payment extension is intended to provide Western with additional flexibility while it explores these potential opportunities. There is no certainty as to whether Western will be successful in negotiating or completing new refinancing transactions prior to the extended payment deadline or at all.\n \n \n \n About Western\n \n \n \n Western is an oilfield  service  company which provides contract drilling  services  through its division, Horizon Drilling in\n \n Canada\n \n , and its wholly owned subsidiary, Stoneham Drilling Corporation in the United States.  Western provides well servicing and oilfield  rental equipment services in Canada  through its wholly owned subsidiary  Western  Production  Services  Corp.  (\"\n \n Western Production Services\n \n \").   Western Production Services' division, Eagle Well Servicing provides well servicing, while its division Aero Rental Services provides oilfield rental services.\n \n \n \n Forward–Looking Statements and Information\n \n \n \n This press release contains certain statements or disclosures relating to Western that are based on the expectations of Western as ...