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Big Eagle News
June 30, 2008
Big Eagle Limited Partnership Closes New Debt Financing
Calgary, Alberta, Canada – Big Eagle Limited Partnership (“Big Eagle” or the “Company”) announces that it has closed credit facilities with a syndicate of lenders. The financing replaces the Company’s existing revolving credit facility and term loans. Big Eagle will also use the credit facilities to fund future acquisitions and support on-going working capital and capital expenditures.
“We are very pleased to have completed this financing in such a challenging credit market and to have gained supportive lenders that truly understand the cycles and nature of the oilfield business in Canada,” comments Roger Stokowski, Big Eagle’s President and Chief Executive Officer. “These credit facilities provide us with the financial flexibility we need to continue to execute our growth strategies and to capitalize on market opportunities.”
Big Eagle is a growth oriented private income trust that has delivered professional, dependable oil and gas field service solutions to industry customers through its large, modern fleet of over 450 units. Servicing Western Canada and the Northwest Territories, Big Eagle has the equipment, personnel and experience to get the job done safely and efficiently regardless of project scope or location.
This press release contains forward-looking statements subject to various risk factors and uncertainties, which may cause the actual results, performances or achievements of Big Eagle to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, fluctuations in the market for oil and gas and related products and services, political and economic conditions, the demand for services provided by Big Eagle, industry competition and Big Eagle’s ability to attract and retain both customers and key personnel.
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