VAALCO subsidiary TransGlobe terminates ATB Financial credit facility; no amounts drawn

VAALCO ENERGY INC /DE/

Borrowing base was C$22.5M; no amounts drawn as of Dec 19, 2022.
Outstanding letters of credit (C$50k) and credit card balance (~C$35k) to be repaid before termination.
VAALCO's $50M senior secured revolving credit facility with Glencore remains in force unaffected.
Termination is voluntary and will release associated liens upon repayment.

item 1.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VAALCO ENERGY INC /DE/ terminated ATB Facility with ATB Financial (effective 2022-12-19).

Action: termination
Agreement: credit facility
Counterparty: ATB Financial
Effective: 2022-12-19

Exact text from the filing

On December 19, 2022, TransGlobe Energy Corporation (“TransGlobe”), an indirect wholly-owned subsidiary of VAALCO Energy, Inc. (“VAALCO”), voluntarily delivered a notice of termination to ATB Financial relating to TransGlobe’s revolving Canadian reserves-based lending facility with ATB Financial, as lender (the “ATB Facility”).

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VAALCO ENERGY INC /DE/ filing history →

Source: SEC EDGAR

accession 0001437749-22-029536

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