Saturn Oil & Gas (TSE:SOIL) has released an update.
Saturn Oil & Gas Inc. has finalized the acquisition of oil-weighted assets in Southern Saskatchewan, funded by a high yield note offering and a $100 million financing deal, with plans to use the increased cash flow for debt repayment and strategic acquisitions. The company has also set up a $150 million reserves-based lending facility, while improving shareholder value is a priority with potential dividends and buy-backs in consideration. Saturn has been rated by S&P Global Ratings and Moody’s Ratings, reflecting the company’s financial position post-acquisition.
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