Sept 5 Oilfield services company Hunting Plc
said it amended the terms of its credit facility after
reporting a first-half loss due to low commodity prices.
Under the new terms, the size of the facility was cut to
$200 million from $350 million, dividends are suspended until
June 30 2018, and annual capital expenditure for 2017 and 2018
was capped at $30 million each, the company said.
Hunting, which provides drilling tools to oil and gas
producers, posted an underlying loss from operations of $50.8
million for the six months to June 30 from a profit of $20.4
million a year earlier.
(Reporting by Mamidipudi Soumithri in Bengaluru; Editing by