Welcome to the Connacher Oil and Gas Hub on AGORACOM

Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: They are Going to Increase Debt !

Also you need to consider that they have the $50 million revolving credit facility. This is used to be drawn on for day-to-day operational activity (purchases of crude for refinery etc.) It makes the process a hell of a lot easier to have a credit facility (liquid cash) then to draw Letter of Credit from the bank everytime they make a purchase. That sentence in the news release by no means states that they are going to increase debt.

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