Essential Energy Services Ltd. (TO: ESN.TO) renewed its credit facility, the company said May 29.
Through a credit agreement, the secured facility is three-year revolving with $100 million, the company said. It can be increased by $35 million at a future date through an accordion feature, Essential Energy Services said, noting that this requires lender consent.
The facility matures on May 31, 2017, the company added.
On May 31, there was $41 million of outstanding debt, Essential Energy Services said.
The syndicate of lenders included the National Bank of Canada, Toronto-Dominion Bank, HSBC Bank of Canada and Canadian Western Bank, the company said.
Calgary, Alberta-based Essential Energy Services Ltd. provides oilfield services in western Canada.