Brief: Perpetual Energy Inc announces increase to credit facility

Perpetual Energy

10/11/2017 13:02

Nov 10 (Reuters) - Perpetual Energy Inc  PMT.TO  
    * Perpetual Energy Inc announces increase to credit facility 
and 
provides 2018 guidance 
    * Perpetual Energy Inc - company's board of directors has 
approved a total capital spending program of $39 million for 
2018 
    * Perpetual Energy Inc - confirm capital spending plans and 
expected production and adjusted funds flow growth for 2018 
    * Perpetual Energy - 62.5% increase to its reserve-based 
credit 
facility confirm 
    * Perpetual Energy Inc - production growth of 30% in 2018 
from 
2017 levels is anticipated to drive 23% adjusted funds flow 
growth to $0.59 to $0.67/share 
    * Perpetual Energy Inc - Perpetual has expanded its credit 
facility lending syndicate to three banks 
    * Perpetual Energy Inc - perpetual credit facility lenders 
have 
agreed to increase borrowing limit from $40 million to $65 
million 
    * Perpetual Energy Inc - maturity date of credit facility 
is May 
31, 2019 and next semi-annual borrowing base review is scheduled 
for May 31, 2018 
    * Perpetual Energy Inc - increased borrowing limit is 
expected to 
provide sufficient liquidity to execute company's 2018 business 
plan 
    * Perpetual Energy Inc - perpetual forecasts 2018 adjusted 
funds 
flow of $35 to $40 million ($0.59/share to $0.67/share) 
    * Perpetual Energy - increased borrowing limit is expected 
to 
retain optionality & incremental liquidity related to co's 1.67 
million investment in Tourmaline Oil 
 
Source text for Eikon:  ID:nPnw9Cm5a  
Further company coverage:  PMT.TO  
 
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