Gulf Oil and Gas accountACCOUNT

INEOS Secures £220m Reserve-Based Lending Facility

Source: www.gulfoilandgas.com 9/7/2016, Location: Europe

Share |
INEOS UK E&P Holdings Limited confirms that it has entered into its first reserve-based lending facility (RBL Facility). The RBL facility is a senior secured five-year £220 million facility and has been secured on attractive terms on the back of the recently-acquired high quality, low risk assets from DEA UK and Fairfield Energy. The Facility will enable repayment of part of INEOS’ equity financing for the acquisitions of DEA UK and Fairfield Energy and will facilitate future development expenditures.

“INEOS is a new entrant to the North Sea and this first step into the oil and gas backed lending market demonstrates support for both our strategic vision and our ambitious plans for the future.” “This first RBL facility is a landmark for INEOS and validates the quality of the assets we acquired in 2015. It is seen as a catalyst to develop future projects and continue to pursue opportunities in the North Sea” said Geir Tuft, INEOS Breagh CEO.

The facility has been arranged by HSBC and Lloyds with participation from Barclays, Deutsche Bank, Goldman Sachs and Bank of Montreal. Ondra advised INEOS UK E&P Holdings Limited.

Acquisitions and Divestitures News in United Kingdom >>

Ireland >>  9/20/2018 - Providence Resources P.l.c., the Irish based Oil & Gas Exploration Company (“Providence” or the “Company”), provides a commercial update on Standard E...
Namibia >>  9/19/2018 - Global Petroleum Limited has signed a Petroleum Agreement to acquire Block 2011A offshore Namibia. Global will hold an 85% interest in the new block a...

United Kingdom >>  9/17/2018 - Zennor Petroleum Limited is pleased to announce that its wholly owned subsidiary, Zennor North Sea Limited, has entered into a Sale and Purchase Agree...
Guyana >>  9/13/2018 - Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with licences in highly prospective regions in Namibia and Guyana, is delighted to ...

United States >>  9/13/2018 - Vanguard Natural Resources, Inc. has executed a purchase and sale agreement for the sale of its ownership in natural gas properties in the Arkoma basi...
United States >>  9/12/2018 - Matador Resources Company announced the successful acquisition of 8,400 gross (8,400 net) acres for approximately $387 million, or a weighted average ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 |

More News

 

Oil & Gas Companies in United Kingdom >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.