Oil and gas independent Nighthawk Energy has secured a further extension to its reserve-based lending facility waiver.
Commonwealth Bank of Australia has waived covenants on Nighthawk’s reserve-based lending facility to May 16 from April 28, to allow further time to agree to possible amendments to the covenant and debt repayment provisions in the facility.
London-listed Nighthawk said it expects new arrangements to have been agreed by the new deadline, alhough it said there is no guarantee an agreement will be reached.
The company’s assets are solely located in the United States.
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