Bonterra confirms facility at $300 million, extends revolving period

By Sarah Lizee

Olympia, Wash., July 14 – Bonterra Energy Corp.’s credit facility has been confirmed at $300 million, comprised of a $125 million revolving facility, a $25 million operating facility and a $150 million term loan facility, with the revolving period extended to Aug. 31 and the credit facility maturing on April 28, 2021.

The company has established a 2020 maintenance capital budget of about $27 million, with the ability to expand this budget with board and unanimous approval from the lending syndicate.

Bonterra anticipates the credit facility will provide sufficient liquidity to execute on its business plan through the balance of 2020, according to a press release.

Bonterra Energy is a conventional oil and gas corporation based in Calgary, Alta.

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