KrisEnergy secures US$100m revolving credit facility

INDEPENDENT upstream oil and gas company KrisEnergy has secured a US$100 million revolving credit facility maturing in March 2016, with an option to extend for an additional year.

The facility - to be signed by its subsidiary KrisEnergy (Asia) - will be used for the acquisition of hydrocarbon assets, general corporate purposes and working capital requirements.

The facility, which is secured by the company's current producing and development assets in the Gulf of Thailand and a producing block in Bangladesh, also contains an option to extend the full amount up to a maximum of US$140 million upon the addition of new hydrocarbon reserves in the proved plus probable (2P) category to the group's portfolio.