04/07/2021 | Press release | Distributed by Public on 04/07/2021 01:47
Neptune Energy today announced that it has completed the annual redetermination of its RBL facility and reconfirmed a borrowing base of $2.3 billion.
As of the end of March, Neptune retains $1.1 billion of undrawn headroom under the facility and total available liquidity of $1.2 billion. The margin on drawn funds will increase from 2.50% to 2.75% in May and the first scheduled amortisation of the RBL remains April 2022. The final maturity date of May 2024 is unchanged.
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About Neptune Energy Group
Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. The business had production of 142,000 net barrels of oil equivalent per day in 2020 and 2P reserves at 31st December 2020 of 601 million barrels of oil equivalent. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.
More information: www.neptuneenergy.com