Delphi Energy Announces Extension of Credit Facility and Increase in Borrowing Base

CALGARY, Alberta, May 31, 2018 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce that it has extended its senior secured credit facility with a syndicate of lenders, led by Alberta Treasury Branches and including The Bank of Nova Scotia and Bank of Montreal, and that the borrowing base of the facility has been increased to $105 million from $95 million.

Subject to the lenders’ semi-annual review, the facility is available on a revolving basis until May 28, 2019 at which time it may be extended at the lenders’ option.

About Delphi Energy Corp.

Delphi Energy Corp. is an industry-leading producer of liquids-rich natural gas.  The Company has achieved top decile results through the development of our high quality Montney property, uniquely positioned in the Deep Basin of Bigstone, in northwest Alberta. Delphi continues to outperform key industry players by improving operational efficiencies and growing our dominant Bigstone land position in this world-class play. Delphi is headquartered in Calgary, Alberta and trades on the Toronto Stock Exchange under the symbol DEE.