BW Energy has signed a USD 250 million Corporate Revolving Credit Facility with
DNB Bank.
The facility provides enhanced financial flexibility to support ongoing field
development activities and general corporate purposes. The financing is backed
by BW Group, reflecting continued confidence in BW Energy's strategy.
The facility has a tenor of 18 months with a bullet maturity and includes an
option to extend by a further 18 months, subject to mutual agreement. The
interest rate is Term SOFR plus 6% per annum on drawn amounts, with a commitment
fee of 0.6% per annum on undrawn amounts.
"This facility enhances our liquidity and provides cost-effective access to
capital, allowing us to maintain financial flexibility as we advance our growth
projects", said Brice Morlot, Chief Financial Officer of BW Energy.
For further information, please contact:
Martin Seland Simensen, VP Investor Relations
ir@bwenergy.no
About BW Energy:
BW Energy is a growth E&P company with a differentiated strategy targeting
proven offshore oil and gas reservoirs through low risk phased developments. The
Company has access to existing production facilities to reduce time to first oil
and cashflow with lower investments than traditional offshore developments. The
Company's assets are 73.5% of the producing Dussafu Marine licence offshore
Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in
the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95%
interest in the Kudu field in Namibia, all operated by BW Energy. In addition,
BW Energy holds approximately 7% of the common shares in Reconnaissance Energy
Africa Ltd. and a 20% non-operating interest in the onshore Petroleum
Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and
resources were 599 million barrels of oil equivalent at the start of 2025.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.