May 30, 2022 |
Phoenix Global Resources, a London-based oil and natural gas exploration and production company focused on Argentina, is in talks with its controlling shareholder Mercuria to restructure the more than $490 million it has drawn from a revolving credit facility, while it also eyes new funding sources, chairman Michael Rake said Friday.
The restructuring talks have taken "more time than anticipated," but a deal is expected later this year, Rake said in a statement.
"The directors still believe they
Argentina-focused oil company is in talks with commodities trader Mercuria