DENVER, Aug 1 (Bernama-GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) ("Sundance" or the "Company"), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, is pleased to announce that it has entered into a $30,000,000 revenue advance facility with Vitol, Inc., part of The Vitol Group which is one of the largest independent energy trading groups in the world.
Oil is priced at market plus or minus any gain or loss on hedging. The revenue advance is repaid through the delivery of oil production at a rate of $20 per gross barrel in Q4 2017 and $25 per gross barrel in Q1 of 2018. The facility may be extended by mutual agreement of the parties.
Oil is priced at market plus or minus any gain or loss on hedging. The revenue advance is repaid through the delivery of oil production at a rate of $20 per gross barrel in Q4 2017 and $25 per gross barrel in Q1 of 2018. The facility may be extended by mutual agreement of the parties.
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