BW Energy secures $250m credit facility for growth

BW Energy has secured a $250 million corporate revolving credit facility with DNB Bank. The 18-month facility is extendable by a further 18 months and backed by BW Group.

The facility carries an interest rate of Term SOFR plus 6% per annum, with a 0.6% commitment fee on undrawn amounts. The company will use the financing for ongoing field development activities and general corporate purposes.

BW Energy holds 2P+2C reserves and resources of 599 million barrels of oil equivalent at the start of 2025.