05:30 PM EDT, 06/10/2024 (MT Newswires) -- Peyto Exploration & Development ( PEYUF ) on Monday said it finalized an agreement with its syndicate of lenders to extend its $1 billion revolving operating facility and its amortizing term facility.

The maturity dates of the revolving facility and the term facility are being extended to Oct. 13, 2027, and Oct. 13, 2026, respectively, from Oct.13, 2025.

The amended term facility maintains the same $14.5 million per quarter amortization schedule but removes the $72.5 million lump-sum payment that was due on Oct. 13, 2025.

The credit facilities amendment, along with Peyto's long-term notes, "provides the company with a strong liquidity position to execute its business plan over the next three years," according to a company statement.

Peyto shares closed up $0.34 to $15.38 on the Toronto Stock Exchange.