Connacher extended creditor protection
Connacher Oil & Gas entered into a Second Forbearance Agreement on the default of principal and interest payments due back in March.
The new agreement extends creditor protection until May 16.
Connacher operates the Great Divide thermal in-situ operation which has a rated capacity of 15,000 bbl/day. Great Divide has been operating at reduced rates (approximately 3,500 bbl/day) in order to preserve cash.