Delphi Energy Corp. Provides Credit Facility Update

CALGARY, Alberta, May 28, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) announces that the Company’s syndicate of lenders, led by Alberta Treasury Branches and including The Bank of Nova Scotia and Bank of Montreal, has extended the term out date of the Company’s $105 million senior secured credit facility to June 14, 2019 in order to complete the annual borrowing base redetermination and extension documentation.

Delphi currently has $82.0 million drawn on the facility and $7.5 million of outstanding letters of credit, leaving $15.5 million of available credit.

About Delphi Energy Corp.

Delphi Energy Corp. is an industry-leading producer of liquids-rich natural gas.  The Company has achieved top decile results through the development of our high quality Montney property, uniquely positioned in the Deep Basin of Bigstone, in northwest Alberta. Delphi continues to outperform key industry players by improving operational efficiencies and growing our dominant Bigstone land position in this world-class play. Delphi is headquartered in Calgary, Alberta and trades on the Toronto Stock Exchange under the symbol DEE.

FOR FURTHER INFORMATION PLEASE CONTACT:
 
DELPHI ENERGY CORP.
2300 – 333 – 7th Avenue S.W.
Calgary, Alberta
T2P 2Z1
Telephone: (403) 265-6171 Facsimile: (403) 265-6207
Email: info@delphienergy.ca  Website: www.delphienergy.ca 
   
DAVID J. REID  MARK D. BEHRMAN
President & CEO  Chief Financial Officer

 

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