CALGARY, Alberta – (PIPE – TSX) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce that is has successfully renewed and extended its Reserve Based Loan (“RBL” or “Credit Facility”) with its syndicate of banks, re-affirming its borrowing base at $225 million.
Pipestone Energy has closed on its RBL renewal with its corporate banking syndicate, consisting of National Bank Financial Inc., Bank of Montreal, ATB Financial, and Canadian Western Bank. The Credit Facility’s borrowing base and available capacity has been maintained at $225 million on a fully conforming basis. The revolving period for the RBL has been extended to May 31, 2022 with a maturity of May 31, 2023. The next borrowing base redetermination is scheduled for November 2021. The RBL renewal and extension ensures Pipestone Energy is fully funded to execute its previously released growth plans.
First Quarter 2021 Conference Call
Following our Q1 2021 financial and operations update release, a conference call has been scheduled for May 12th, 2021 at 9:00 a.m. Mountain Daylight Time (11:00 a.m. Eastern Daylight Time) to update interested investors, analysts, brokers, and media representatives on the Company’s operations and Q1 2021 highlights.
Conference Call Details:
Toll-Free: (866) 953-0776
International: (630) 652-5852
Conference ID: 8981815
An archived recording of the conference call will be available shortly after the event and will be available until May 19, 2021. To access the replay please dial toll free in North America (855) 859-2056 or International (404) 537-3406 and enter 8981815 when prompted.