Petrus lenders extend revolver, second-lien term loan

Chicago, June 1 – Petrus Resources Ltd. said its syndicate of lenders has extended its revolving credit facility and its term loan, according to a press release.

The company received a short-term extension to the borrowing base determination date to June 14 from May 31 for the revolver.

The lenders also extended the maturity date of the term loan to Aug. 16 from July 31.

The short-term extensions are intended to allow extra time for the company to finalize further one-year extensions to both the credit facility and the term loan.

Currently the company has C$77 million drawn on the C$80 million revolver and C$38 million on the outstanding term loan.

Petrus is an oil and gas company based in Calgary, Alta.

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