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Prairie Provident Resources Inc. has reported the confirmation of its US$60 million borrowing base under the Company’s senior secured revolving facility.
PPR has also finalized terms of amending agreements with Prudential Capital Group respecting its Revolving Facility and senior subordinated notes, which relax certain financial covenant thresholds effective for the quarter ending March 31, 2019 through the quarter ending December 31, 2019. Prairie Provident expects that the amended thresholds will provide it with additional financial flexibility and runway to execute its 2019 capital program and deliver long-term growth in reserves, production and cash flow for shareholders.
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