Ophir signs new $250M facility to refinance debt

UK-based oil and gas company Ophir Energy has signed a new $250 million reserve based lending facility (RBL) secured against the group’s producing assets in Southeast Asia.

Ophir has a combination of production, development and exploration assets in Asia.

In Thailand, Ophir has both oil and gas production and exploration. In Indonesia, Ophir has an onshore gas development and deepwater exploration acreage. The company has further exploration acreage in Myanmar and Malaysia.

In addition to the committed $250 million, a further $100 million is available on an uncommitted “accordion” basis, the oil company said in a statement on Wednesday.

The RBL has a seven year term and matures on June 30, 2024, and it replaces Ophir’s existing RBL facility which matures in December 2019. The new RBL facility is currently undrawn.

The facility has been provided by Australia and New Zealand Banking Group Limited, BNP Paribas, Commonwealth Bank of Australia, Crédit Agricole, HSBC, Société Générale and Standard Chartered.

Commenting on the new facility, Tony Rouse, CFO of Ophir said: “We are pleased to have the continued support from our key relationship banks and to welcome new lenders into the facility. The combination of existing cash, this credit facility and cash flows from operations will provide the capital for Ophir to continue to invest to maximize the cash generation of its production and development portfolio.”

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply