IGas Energy plc has repaid $4 million debt of its reserves-based loan leaving net debt of £8.2m. FLEXIBILITY The company holds $22m (£18.1m) of debt capacity and, as at 29 July 2022, cash balances were £2.4m. “Higher commodity prices continue to drive strong operating cash flow generation giving us financial flexibility,” said chief executive Stephen […]
Tag: Reserves Based Lending (RBL)
IGas RBL shows debt headroom of $8.6m
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 […]