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OSH) Stock prices fall after market update

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NS Oil Search Co., Ltd. (ASX: OSH) Stock prices have fallen during trading late in the afternoon after the market was announced earlier today.

At the time of this writing, Energy Giants shares are trading down 2.40% at $ 3.66 per share. This means that its share has dropped by nearly 8% in the past month. Fall in crude oil prices By Hurricane Aida in the United States.

What did Oil Search announce?

According to today’s release, Oil Search advised that it has signed a new non-amortized revolving document of US $ 565 million. Credit facility..

The company refinanced through a banking group consisting of banks in Papua New Guinea, Australia, Asia and the United States. The credit facility is valid for December 31, 2026.

It replaces the previous $ 600 million credit line, which was due to expire in June 2022.

Chelsea McGregor, Vice President of Treasury at Oil Search, commented:

We are pleased to receive support from both existing and new affiliated banks, recognizing that Papua New Guinea remains an attractive investor.

The new facility extends the Group’s weighted average debt maturity profile, maintains liquidity above US $ 1 billion and is a key element of Oil Search’s capital management strategy over the next five years.

Recently, oil search update Regarding the proposed merger Santos Co., Ltd. (ASX: STO).. The company has extended its due diligence period by another week until September 13.

The proposed proposal consists of receiving 0.6275 new Santos shares for each Oil Search share held by Oil Search shareholders.

As the deal progresses, Santos and Oil Search will become ASX’s largest oil and gas company.

Oil Search Stock Price Summary

Oil Search’s share has increased by more than 20% since this time last year, but has been relatively flat since the beginning of the year. The company’s share price remained flat for most of 2021 amid uncertain global economic recovery.

Based on today’s price, oil search Market first It is approximately $ 7.6 billion and has issued 2 billion shares.

OSH) Stock prices fall after market update

Source link OSH) Stock prices fall after market update

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