BOK Financial has increased the borrowing base of Kolibri Global Energy’s indirect wholly owned subsidiary BNK Petroleum from $40 million to $50 million on its revolving line of credit, an increase of 25%. The current outstanding amount drawn on the credit facility is $32 million.
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“We are very pleased to have BOKF’s continued support as we continue the development of our Tishomingo project. The 25% increase in our borrowing base provides us with more flexibility and supports our production and cash flow growth initiatives and demonstrates the value of the field,” Wolf Regener, president and CEO, said.
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The other terms of the credit facility remain the same.
