Calgary, Alberta – Jupiter Resources Ltd. and its affiliates (collectively, “Jupiter” or the “Company”) have received an additional extension to the maturity date, associated with the Company’s existing senior secured reserve-based revolving credit facility (the “RBL Facility”), until January 15, 2020.
The commitments under the RBL Facility will be limited to a maximum of $265 million for the additional extension period, during which the Company will continue to negotiate a longer-term credit agreement that will support Jupiter’s business plan.
Jupiter is an independent Calgary-based energy company with an operations office in Grande Cache, Alberta. The Company is focused on the acquisition, development and production of unconventional liquids-rich natural gas properties in the Western Canadian Sedimentary Basin. For more information visit: www.jupiterresources.com.
Forward Looking Statements
Certain information set forth in this release contains forward-looking statements, which are provided to allow investors to better understand our business, including statements related to the completion of a longer-term credit agreement. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Jupiter’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve and resource estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management and services, stock market volatility, changes in environmental regulations, tax laws and royalties and the ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Jupiter’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements, or if any of them do so, what benefits that Jupiter will derive therefrom. There can be no assurances that any longer-term credit agreement will be completed during the additional extension period. In the event that such is not completed during the additional extension period for any reason, there is a risk that the amounts outstanding under the RBL Facility will become immediately payable, which would have a material adverse impact on the Company’s ability to continue its business. Jupiter disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Ryder McRitchie, VP Capital Markets & Public Relations