KrisEnergy gets $150m acquisition facility with Standard Bank

Singapore-based oil and gas company KrisEnergy Ltd has entered into a US$150 million acquisition finance facility agreement with Standard Bank Plc.

The credit facility enables the leveraged acquisition of oil and gas producing assets and was utilised in recently completed transactions in Indonesia and Thailand, the company said in statement on Monday.

?As we continue on our rapid growth path, this facility is the first step in applying appropriate leverage to producing assets to maximise the utilisation of our available equity and enhance our financial returns in a balanced manner. We are delighted to be working with Standard Bank,? said Keith Cameron, KrisEnergy?s Chief Executive Officer.

The company did not give further details.

KrisEnergy is an upstream oil and gas company, established in September 2009 to build and create value across a diverse portfolio of exploration, development and production assets in Southeast Asia. The company currently holds interests in nine licences in Cambodia, Thailand, Indonesia and Vietnam. (denny)