January 24, 2017 / 1:18 PM / 9 months ago

BRIEF-Petrus Resources announces term loan refinancing

Jan 24 (Reuters) - Petrus Resources Ltd :

* Petrus Resources announces term loan refinancing, production and operations update and 2017 outlook

* Petrus Resources Ltd - has entered into an agreement with macquarie bank limited to extend company’s $42 million second lien term loan by two years

* Petrus Resources Ltd - reduced amount outstanding by $7 million through working capital and available credit facilities

* Petrus Resources Ltd- 2017 capital budget is expected to add net production at a cost of approximately $15,000 per flowing boe/d

* 2017 capital program is expected to be funded through cash flow and working capital

* Petrus Resources Ltd - 2017 capital program is expected to include drilling 16 gross (11.7 net) cardium wells at ferrier

* Petrus Resources-expects 2017 capital program will increase Dec 2016 field estimated production by about 12 to 18 pct by year-end 2017 to 9,600-10,200 boe/d

* Petrus Resources - co’s Jan monthly production is expected to be about 9,000 boe/d with addition of three new wells in co’s 2016 drilling program Source text for Eikon: Further company coverage:

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