Far East Energy Corp.'s Bridge Facility with SCB Extended for 2 Months
Far East Energy Corporation, the U.S. listed company that operates the Shouyang Coalbed Methane (CBM) Production Sharing Contract (PSC) in China's Shanxi Province, announced Friday a further extension of the maturity date of its existing bridge facility with Standard Chartered Bank (SCB).
The maturity date of the bridge facility with SCB has been extended to Sept. 15, from the previous maturity date of July 15.
Commenting, CFO, Jennifer Whitley said, “We are pleased with the continuing support offered by SCB as management continues its ongoing discussions with various third parties.”
The Company will continue to advise its shareholders at appropriate times as developments progress.
Gas production from the Shouyang Block has averaged 1.91 million cubic feet per day for the first nine days of July, with production rates mirroring those rates previously reported for the months of May and June.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- China's Shouyang CBM PSC Operator FEEC Ceases Operations (Nov 12)
- China's Shouyang CBM Operator FEEC Enters Into $4M Loan Facility Agreement (Jun 30)
- FEEC Gets Extension on Maturity Date of Facility Agreement with SCB (Dec 01)