CALGARY, Feb. 7, 2012 /CNW/ - Secure Energy Services Inc. ("Secure" or the "Corporation") (TSX:SES) announced today that it has expanded its existing syndicated credit facility ("Syndicated Facility") to $200 million through the exercise of the $50 million accordion feature. All members of the existing syndicate consisting of six financial institutions and Canadian chartered banks participated in the expansion of the Syndicated Facility. There were no changes to the terms of underlying syndicated credit agreement previously announced on August 4, 2011.
ABOUT SECURE ENERGY SERVICES INC.
Secure is a TSX publicly traded energy services company that focuses on providing specialized services to upstream oil and natural gas companies operating in the Western Canadian Sedimentary Basin.
The Corporation operates two divisions:
Processing, Recovery and Disposal Division ("PRD"): Operating under the trade name Secure Energy Services, the processing, recovery and disposal services division focuses on clean oil terminalling, custom treating of crude oil, crude oil marketing, produced and waste water disposal, oilfield waste processing, landfill disposal and oil purchase/resale service.
Drilling Services Division: Operating under the trade names Marquis Alliance and XL Fluids, the drilling services division focuses on drilling fluid systems, solids control, equipment rental service, drilling waste management and environmental services. The drilling fluids service line includes the design and implementation of drilling fluid systems for producers drilling for oil, bitumen and natural gas.
The Toronto Stock Exchange has not reviewed, nor does it accept responsibility for the adequacy or accuracy of this release.
