PetroShale extends credit facility maturity to June 2023

By Rebecca Melvin

Concord, N.H., March 30 – PetroShale Inc. extended the maturity date of its senior secured credit facility to June 2023, according to a company release.

The current $177.5 million borrowing base of the credit agreement remained unchanged.

The agreement, which is subject to semi-annual credit capacity reviews, was entered into concurrently with completion of the company’s previously announced recapitalization, which includes the conversion of outstanding preferred shares to common shares, and which is expected to close on April 8.

The oil company is based in Calgary, Alta.

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