05:31 PM EST, 11/26/2024 (MT Newswires) -- Highwood Asset Management (HAM.V) after trade Tuesday said it is repaying a promissory note issued in conjunction with the acquisition of Boulder Energy. in August, 2023, earlier and updated on its 2025 capital program.

The promissory note was set to mature on July 1, 2025. Highwood said it paid the full outstanding principal balance and accrued interest of approximately $10.7 million.

The company said repayment of the note will have a positive impact on interest expense with credit facility bearing interest currently at approximately 8%, compared to the note's 13% rate. Furthermore, the early repayment will create additional financial flexibility for Highwood.

Also, the company recently announced a planned 2025 capital expenditure program of $60-65 million.