Impact: Positive. BlackPearl's revised borrowing base of $117.5 mm remains sufficient to execute the Company's 2016e capital spending budget of $10-$15 mm with our outlook expecting its debt levels to continue to fall from current levels of $80 mm (or ~0.68x its current capacity) throughout the balance of the year. Operationally, BlackPearl's ramp-up at its thermal Onion Lake project continues to look strong having reached the project capacity of 6,000 bbl/d in June (on schedule) and then sur
12 Jul 2016
RENEWS BANK CREDIT FACILITIES AND PROVIDES AN OPERATIONS UPDATE
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RENEWS BANK CREDIT FACILITIES AND PROVIDES AN OPERATIONS UPDATE
BlackPearl Resources (PXX:TSE) | 0 0 -1.7% | Mkt Cap: 380.0m
- Published:
12 Jul 2016 -
Author:
Robert Fitzmartyn -
Pages:
2
Impact: Positive. BlackPearl's revised borrowing base of $117.5 mm remains sufficient to execute the Company's 2016e capital spending budget of $10-$15 mm with our outlook expecting its debt levels to continue to fall from current levels of $80 mm (or ~0.68x its current capacity) throughout the balance of the year. Operationally, BlackPearl's ramp-up at its thermal Onion Lake project continues to look strong having reached the project capacity of 6,000 bbl/d in June (on schedule) and then sur