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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Essential Energy Services Ltd | TSX:ESN | Toronto | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.40 | 0.395 | 0.40 | 0 | 01:00:00 |
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Essential Energy Services Ltd. (TSX:ESN) ("Essential") has entered into a
renewed credit agreement dated May 29, 2014 (the "Credit Agreement") with a
syndicate of lenders including National Bank of Canada, The Toronto-Dominion
Bank, HSBC Bank Canada and Canadian Western Bank (the "Lenders"). The Credit
Agreement provides Essential with a three-year revolving $100 million secured
credit facility. In addition, there is an accordion feature that allows
Essential to increase the credit facility by $35 million at a future date,
subject to certain terms and conditions, including Lenders' consent. The
maturity date is May 31, 2017.
On May 29, 2014, Essential had $41 million of debt outstanding.
ABOUT ESSENTIAL
Essential is a growth-oriented, dividend paying corporation that provides
oilfield services to producers in western Canada for producing wells and new
drilling activity. Essential operates the largest coil tubing well service fleet
in Canada with 47 coil tubing rigs and a fleet of 55 service rigs. Essential
also sells, rents and services downhole tools and equipment including the Tryton
Multi-Stage Fracturing System (Tryton MSFS(R)). Further information can be found
at www.essentialenergy.ca.
The TSX has neither approved nor disapproved the contents of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Essential Energy Services Ltd.
Garnet K. Amundson
President and CEO
(403) 513-7272
service@essentialenergy.ca
Essential Energy Services Ltd.
Karen Perasalo
Investor Relations
(403) 513-7272
service@essentialenergy.ca
www.essentialenergy.ca
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