Terra Energy Corp. renewed its credit facility with its senior lender, and selected a financial adviser, the company said Aug. 4.
The renewed facility contains a $22.5 million revolving loan, about $5 million in letters of credit and a $700,000 remaining development line. It was renewed after the annual review by the chartered lender.
The next review is scheduled for May 1, 2016, the company said.
Black Spruce Merchant Capital was chosen as Terra’s financial adviser. Black Spruce was recommended by the committee of independent directors to Terra’s board, the company said.
Terra Energy Corp. is based in Calgary, Alberta.
Rattler Midstream acquired a minority interest in a gas gathering and processing JV servicing the Midland Basin where Diamondback Energy is deploying a majority of its development capital.
The strategic partnership is introducing FracSense, a diagnostic service to help engineering professionals at our oil and gas customers acquire more accurate diagnostic information, ultimately leading to optimized hydrocarbon production.
Liberty Oilfield Services Inc. has introduced FracSense, a diagnostic service to help E&P customers acquire more accurate diagnostic well data to optimize hydraulic fracture completions and well spacing, on May 11.