Obsidian Energy extends syndicated credit facility

Detroit, Oct. 29 – Obsidian Energy Ltd. extended its syndicated credit facility to Jan. 29, 2021, according to a press release.

The facility has an underlying borrowing base of C$550 million and the amount available to be drawn on the facility is C$450 million, which remains unchanged.

The facility continues to be available on a revolving basis until Jan. 29, subject to further extensions, with the end date of the term period set at Nov. 30, 2021.

The lenders have the option to complete a borrowing base redetermination on Jan. 29.

The lenders have elected to not proceed with the borrowing base redeterminations on Oct. 31 and Nov. 30.

Obsidian Energy is a Calgary, Alta.-based oil and natural gas production company.

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