Oilexco has clinched increased funding for a trio of new field developments in the UK North Sea.
Offshore staff
ABERDEEN, UK --Oilexco has clinched increased funding for a trio of new field developments in the UK North Sea.
The Calgary-based company has signed an agreement with its banking syndicate, headed by the Royal Bank of Scotland, raising its credit facility from $275 million to $500 million.
This, along with a pre-development facility of $100 million, will be available for the Huntington, Ptarmigan, and Shelley projects, and for completion of the recent acquisition of the Balmoral floating production vessel from CNR International.
