Upstream oil and gas company KrisEnergy has extended its existing revolving credit facility (RCF) by one year to March 24, 2017. The facility amount is approximately US$111mn and will reduce to around US$55mn on July 31, 2016.

The loan is secured by the company’s producing assets in the Gulf of Thailand and Bangladesh, and development assets in the Gulf of Thailand and Indonesia.

HSBC, the Commonwealth Bank of Australia and ANZ are the mandated lead arrangers on the facility.

“Given the current macroeconomic environment, a key priority for the company in 2016 is to manage cashflows and liquidity,” reads a statement issued by the firm. “As such, KrisEnergy’s management is examining all strategies to put the company’s capital structure on a long-term footing and to provide maximum flexibility to access a range of funding options going forward. The facility extension is in furtherance of that goal.”