Endeavour extends $100 million portion of revolving credit facility

By Susanna Moon

Chicago, March 11 - Endeavour International Corp. amended its revolving credit facility on March 5, extending the maturity of about $100 million of the commitments under the revolver to June 30, 2014 from Oct. 12, 2013, according to an 8-K filing with the Securities and Exchange Commission.

The remaining principal of the revolver will mature on Oct. 12, 2013.

Cyan Partners, LP is the administrative agent.

Under the amendment, the lenders also consented to the production payment transaction by the company's wholly owned subsidiary Endeavour Energy UK Ltd.

Endeavour Energy UK entered into a sale and purchase agreement with END PP Holdings LLC for the sale and purchase of a production payment over the proceeds of sale from a proportion of Endeavour Energy UK's entitlement to production from its interests in the Alba and Bacchus fields located in the U.K. sector of the North Sea, according to the 8-K filing.

Endeavour is a Houston-based oil and gas exploration and production company.

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