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E&P Company Secures $400 Million in New Financing
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AWE Limited has announced a new four-year, A$400 million secured multicurrency syndicated bank loan facility to replace its existing A$300 million unsecured loan facility.
Chief Financial Officer of AWE, Ayten Saridas, said that the new facility further strengthens the company’s capacity to deliver its expanding portfolio of major growth projects and take advantage of emerging opportunities: "AWE’s ability to increase its bank facility by A$100 million to A$400 million in the current low oil price environment reflects the strength and stability of the company’s asset portfolio and the resilience of the underlying projected cash flows."
Over the past 12 months, AWE has added two significant projects to its development portfolio: the Senecio/Waitsia gas project in the onshore Perth Basin…
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