PHX Energy Announces Amendments to Credit Facilities and Court Approval of Settlement of Class Actions
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 10/16/15 -- PHX Energy Services Corp. ("PHX Energy" or the "Corporation") (TSX: PHX) announced today that it has entered into an agreement with its syndicate of lenders to make certain amendments to its credit facilities (collectively, as amended, the "Credit Facility").
The amendments reflect, without limitation, the following revisions to PHX Energy''s financial and negative covenants under the Credit Facility:
The Corporation and its lenders have also agreed to certain other amendments and additional terms to the Credit Facility, including, without limitation, the following:
Defined terms used herein have the meanings ascribed thereto in the Credit Facility, a copy of which can be found under the Corporation''s profile on SEDAR at .
The Corporation also announces that it has received the requisite court approval of the settlement agreement (the "Settlement Agreement") among PHX Energy''s U.S. subsidiary, Phoenix Technology Services USA, Inc. ("Phoenix USA") and the parties to the previously disclosed actions relating to the three wage and hour lawsuits (collectively, the "Class & Collective Actions") involving Phoenix USA. The details of the Class & Collective Actions and the Settlement Agreement were contained within the Corporation''s press release dated September 10, 2015.
About PHX Energy Services Corp.
The Corporation, through its directional drilling subsidiary entities, provides horizontal and directional drilling technology and services to oil and natural gas producing companies in Canada, the US, Albania, and Russia. In addition PHX Energy provides electronic drilling recorder ("EDR") technology and services, through Stream Services.
The common shares of PHX Energy are traded on the Toronto Stock Exchange under the symbol "PHX".
Contacts:
PHX Energy Services Corp.
John Hooks
Chief Executive Officer
(403) 543-4466
PHX Energy Services Corp.
Cameron Ritchie
Senior Vice President, Finance and Chief Financial Officer
(403) 543-4466
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Datum: 16.10.2015 - 14:30 Uhr
Sprache: Deutsch
News-ID 1392811
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Oil & Gas
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