Mexico’s Oro Negro to make interest payments on Jan. 17 and Jan. 24

By Caroline Salls

Pittsburgh, Jan. 12 – Oro Negro Drilling Pte. Ltd. and Perforadora Oro Negro, S de RL de CV will pay on Jan. 17 all interest due on July 24, 2016 and Oct. 24 in accordance with a bond agreement amendment entered into in November in connection with Oro Negro’s senior secured bond issue 2014/2019, according to a news release.

The interest due on Jan. 24 will be paid on that date.

Oro Negro and Perforadora Oro Negro said they invoiced Pemex in December for $105.92 million due under drilling contracts for works performed from March 1, 2016 to Nov. 30.

The companies said the contracts require Pemex to pay the invoices 20 days after they are submitted.

To date, Oro Negro and Perforadora Oro Negro have received $64.31 million in invoice payments, and they expect to receive the remaining amount due by the end of January.

The oil and gas services company is based in Alvaro Obregon, Mexico.

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