BNK Petroleum has obtained a new US$75,000,000 revolving line of credit from BOK Financial. The initial commitment amount of the new reserve-based facility is US$25,000,000.
Initial proceeds from the new facility were used to fund the re-payment of BNK US’ existing credit facility. Going forward, proceeds of the new facility are intended to be used for the further development of the Company’s Tishomingo field in Oklahoma.