Hemisphere Energy Establishes New $35 Million Credit Facility and Announces Early Payout of Its Term Loan
Retrieved on:
Wednesday, July 28, 2021
As part of entering into the Credit Facility, the Company has fully repaid and terminated its existing term loan with Cibolo Energy Partners (the "Former Term Loan").
Key Points:
- As part of entering into the Credit Facility, the Company has fully repaid and terminated its existing term loan with Cibolo Energy Partners (the "Former Term Loan").
- The refinancing resulting from the new Credit Facility is expected to provide additional flexibility to the Company, and is anticipated to result in a significant reduction in corporate interest costs for Hemisphere moving forward.
- Hemisphere is a Canadian oil company focused on sustainable growth of its high netback, low decline conventional heavy oil assets through water and polymer flood enhanced recovery methods.
- Such information represents the Company's internal projections, estimates, expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance.