DENVER, Feb. 5, 2015 /PRNewswire/ — Buckhorn Energy Services, LLC (“Buckhorn” or the “Company”) announced today that it had secured a $150 million senior secured revolving credit facility with an uncommitted provision for expansion to $175 million.
The facility can be used to fund acquisitions, capital expenditures working capital and general corporate purposes.
Gary Ebel, Buckhorn Energy Services CEO, said: “Closing this credit facility is a testament to the strength of our business plan, our team and our ability to build value over the long-run. We anticipate that the current down cycle will provide us opportunities to expand and strengthen our core services lineup. The available liquidity adds to our already strong balance sheet and empowers us to act quickly to take advantage of strategic opportunities as they arise. We are well positioned to weather the current commodity price environment, and we are working diligently to build our competitive advantages to emerge from this cycle even stronger than when it started.”
This is neither an offer to sell nor a solicitation of an offer to buy notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About Buckhorn Energy Services
Founded in 2011, Buckhorn Energy Services, LLC is headquartered in Greenwood Village, CO and provides innovative solutions in the areas of oil field fluid management and waste disposal services to the oil and natural gas industry, with operations focused in the Williston and Permian Basins.
Forward-Looking Statements
This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Buckhorn has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including (i) changes in demand for our services and any related material impact on our pricing and utilizations rates, (ii) Buckhorn’s ability to execute, manage and integrate acquisitions successfully and (iii) changes in our expenses, including labor and financing costs. Additional important risk factors that could cause actual results to differ materially from expectations. While Buckhorn makes these statements and projections in good faith, neither the Company nor its management can guarantee that anticipated future results will be achieved. Buckhorn assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Buckhorn, whether as a result of new information, future events, or otherwise.
Contact:
Victor Wind
CFO
720-242-9853
