Ashurst has advised EnQuest on a new US$1.7 billion credit facility, underwritten by BNP Paribas and Scotiabank. The facility comprises a committed amount of US$1.2 billion for six years. A further US$500 million is available with the lenders' consent and additional reserves. The facility is to be used for general purposes and replaces the existing facility put in place in Q1 2012.

The Ashurst team was led by oil and gas structured finance partner Huw Thomas, assisted by senior associate Nicholas Ross-McCall and associate Nicholas Szmigin.