Birchcliff Energy Ltd. - 2011-05-19
Description
The company has received bank syndicate approval to increase its revolving credit facilities to $450 Million from $375 Million and in addition has received approval for a $70 Million, 5 year term credit facility.
The proceeds of will be used to finance the construction of the Phase III expansion of the PCS Gas Plant, which serves Canada's Montney tight resource play. The aggregate maximum amount available under these credit facilities is now $520 Million.