Empire Energy Group extended its Macquarie Bank credit facility three years. It is set to mature on February 28, 2016 on the same terms and conditions.
The credit facility was first implemented in 2008 for a five-year period. Since the facility’s implementation, the company has purchased and bid on numerous oil and gas assets in the U.S.
This facility was also increased to $150 million with around $49 million of it currently drawn.
The extension will enable the company to continue to target the acquisition of assets that offer attractive aggregation and growth potential and demonstrates Macquarie Bank’s support of the company’s operations.
Empire Energy USA is an oil and natural gas producer with operations in Appalachia (New York and Pennsylvania) and the Central Kansas Uplift (Kansas).