THE WOODLANDS, Texas, Dec. 13, 2022 /PRNewswire/ — BJ Energy Solutions announced today that the Company has closed on a new fully committed credit facility with Eclipse Business Capital, providing for a $100 million ABL revolver. BJ TITAN (PRNewsfoto/BJ Energy Solutions) The facility will be used to refinance existing indebtedness, fund the construction of the Company’s next generation TITAN™ fleets, and other corporate purposes, including working capital. "This debt placement helps us secure financing to continue to organically pursue our business plan, meet our contracted customer needs and sustain our continued rollout of the TITAN Next Generation fracturing platform, demonstrating our commitment to providing lower carbon technologies to the Oil & Gas Industry," said Warren Zemlak, President & CEO of BJ Energy. "We are excited to be partnering with Eclipse Business Capital on this new credit facility and appreciate their support in executing our strategic plans." Piper Sandler & Co served as the exclusive financial advisor and sole placement agent on the transaction. About BJ Energy Solutions With a rich legacy beginning in 1872, BJ has 150 years of technology innovation. Today, BJ Energy’s strategy is to champion sustainable products and emissions reduction through the investment, development, and commercialization […]
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