Pulse Seismic extended its revolving credit facility for an additional year. The new maturity date of the facility is February 13, 2020. The facility’s available borrowing amount remains at $30.0 million. Up to $5.0 million of the revolving facility continues to be available as an operating line of credit.

A syndicate led by TD Bank provided the credit facility and included ATB Financial. The facility continued to include an accordion feature which allows Pulse to increase the facility’s size up to $70.0 million, subject to the consent of the lenders. The accordion incurs no renewal or standby fees.

“We value the ongoing strong support of our lenders,” commented Neal Coleman, Pulse’s president and CEO. “In January of this year we acquired approximately 107,000 net kilometres of 2D seismic data, thereby increasing our 2D library by over 30%. As a debt-free organization, having this undrawn revolving credit facility assists us in the pursuit of additional seismic data acquisition opportunities.”

Calgary-based Pulse acquires, markets and licenses 2D and 3D seismic data to the western Canadian energy sector.