Sundance Energy Australia Ltd. (NASDAQ: SNDE) said that it has entered into a US$30 million revenue advance facility with Vitol Inc.

The Vitol Group is one of the largest independent energy trading groups in the world. Oil is priced at market plus or minus any gain or loss on hedging.

The revenue advance is repaid through the delivery of oil production at a rate of $20 per barrel (bbl) in Q4 2017 and $25/bbl in Q1 2018. The facility may be extended by mutual agreement of the parties.

“We are very pleased to enter into this revenue advance facility with Vitol,” said Eric McCrady, CEO of Sundance. “Beginning this relationship with Vitol gives Sundance a high-quality partner to expand its access to international markets and finalization of this facility provides significant near term liquidity for the company to execute its near term business plan.”