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Lightstream Updates Guidance, Drilling 38 Wells
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Lightstream Resources has updated its 2014 guidance following its proposed asset sale.
Secured Term Credit Facility UpdateConsistent with other divestment activity in 2014, we are applying all cash proceeds from the Transaction to repay debt. Upon the successful completion of this Transaction we will also reduce the maximum lending amount of our secured term credit facility by $150 million to $1.15 billion (before the optional accordion feature that permits an increase by a further $100 million), with only $525 million drawn on a pro forma basis. The maturity date of the secured term credit facility remains June 2017, subject to further extensions.
Guidance UpdateWe are updating our guidance to reflect the sale of the remaining assets in our southeast Saskatchewan Conventional business…
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