IGas Energy plc confirmed it had US$27 million (£19.5m) of debt capacity and current headroom of $8.6m (£6.2m).
The figures come from the onshore oil and gas company’s six-monthly Reserves Based Lending (RBL) facility redetermination exercise.
As at 30 June 2021, the onshore oil and gas company’s cash balances stood at $3.6m, with net debt of $18.4m.
IGas focuses on the East Midlands and the Weald Basin in the south of England, and has started to diversify into renewable energy.
The company is also exploring opportunities to reform its existing gas production into hydrogen.