Buckhorn Energy Services LLC secured a $150 million senior secured revolving credit facility, it said Feb. 5. The facility could be expanded to $175 million, the oilfield services company added.
The facility will support acquisitions, capex, working capital and general corporate purposes.
"Closing this credit facility is a testament to the strength of our business plan, our team and our ability to build value over the long-run. We anticipate that the current down cycle will provide us opportunities to expand and strengthen our core services lineup. The available liquidity adds to our already strong balance sheet and empowers us to act quickly to take advantage of strategic opportunities as they arise. We are well positioned to weather the current commodity price environment, and we are working diligently to build our competitive advantages to emerge from this cycle even stronger than when it started,” Gary Ebel, CEO, said.
Buckhorn Energy Services LLC is based in Greenwood Village, Colo.
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