BPZ Resources, units get waivers under credit terms via Credit Suisse

By Susanna Moon

Chicago, March 12 - BPZ Resources, Inc. and its subsidiaries obtained waivers under credit agreement provisions on March 8 with Credit Suisse AG, Cayman Islands Branch, according to an 8-K filing with the Securities and Exchange Commission.

BPZ and its subsidiaries BPZ Exploracion & Produccion SRL, BPZ Energy LLC and Soluciones Energeticas SRL executed a waiver to the $75 million credit agreement dated July 6, 2011 with Credit Suisse, Cayman Islands for BPZ E&P's minimum crude oil barrel production for the fiscal quarter ended March 31 and first production from the CX-15 platform.

In addition, the company and its subsidiaries Empresa Electrica Nueva Esperanza SRL and BPZ E&P executed a waiver to the $40 million credit agreement dated Jan. 27, 2011 with Credit Suisse for BPZ E&P's minimum crude oil barrel production for the fiscal quarter ended March 31.

BPZ Resources is Houston-based oil and gas exploration and production company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.