Obsidian Energy further extends syndicated credit facility

By Taylor Fox

New York, March 26 – Obsidian Energy Ltd. extended its syndicated credit facility to Nov. 30, 2022 from Jan. 29, 2021, according to a 6-K filing with the Securities and Exchange Commission.

The facility has C$440 million of availability and consists of a $225 million revolving credit facility and a $215 million non-revolving term loan.

The revolving period was extended to May 31, 2022 with the end date of the term period now set at Nov. 30, 2022.

The non-revolving loan will mature Nov. 30, 2022.

The borrowing base redetermination will occur on Nov. 30, 2021 and May 31, 2022.

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

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