The new facility will enable the Group to simplify its existing capital structure and finance the acquisition of a 26.69% interest in the Golden Eagle Development Area Project in the North Sea.
Jonathan Swinney, EnQuest Chief Financial Officer, commented: “I am delighted to have agreed this new facility. It enables the refinancing and simplification of our existing capital structure and the acquisition of the Golden Eagle assets which will add material value, production and reserves to EnQuest.
“I would like to thank our lead banks, BNP Paribas and DNB, together with all of the lenders, for their support and I look forward to working with them.”
Read the latest issue of Oilfield Technology in full for free: Issue 1 2021
Oilfield Technology’s first issue of 2021 begins with a look at US tight oil’s prospects this year. The issue then moves on to cover completions technology, production forecasting, electric fracturing, sand recovery and more.
Exclusive contributions come from Rystad Energy, Archer, Weatherford, Halliburton, CGG, NOV, TETRA Technologies, Clariant and more.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/11062021/enquest-refinancing-deal-concluded/