Does anyone know the situation with the sale of the north sea assets? whats the hold up? Also, doesn't the low interest rate environment help a company like CRZO since it has so much debt. Apologies for my ignorance, I am trying to learn about this company as it looks very promising. Thanks again.
End of Jan '11 CRZO made new revolvers and are paying 3% in US on a 5 yr and 4.5% on the N Sea revolver which sounds pretty cheap to me. there was a redetermination in May but I don't know what happened.
Most of the debt is senior secured 2018 $600M @ 8.625% which is not bad IMO