Pacific Exploration lenders waive $1 bln net worth covenant

martes 29 de septiembre de 2015 06:42 GYT

Sept 29 (Reuters) - Oil and gas producer Pacific Exploration and Production Corp reached an agreement with its lenders to waive off a covenant that requires it to maintain above $1 billion in net worth.

The waivers are effective for about $1.43 billion in debt facility and will terminate on Dec. 28, the company said on Tuesday. (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Shounak Dasgupta)