November 2025
Kirk Lovegrove has acted as financial adviser to EnQuest Plc on their new US$800 million 6-year secured Reserves Based Lending (“RBL”) facility. The new RBL facility replaces EnQuest’s existing $500 million RBL facility and incorporates both a secured revolving loan facility and a secured revolving letter of credit facility. A syndicate of eight leading international banks, including both existing lenders and new relationships, were involved in the new facility.
Niels Kirk, Executive Chairman of Kirk Lovegrove, commented: “We are delighted to advise EnQuest on its RBL refinancing and to support this landmark lending transaction. The UK North Sea is a core geography for us, having advised on multiple UKCS projects in recent years. KLC is having a strong year in 2025, with client transactions announced in M&A, debt advisory and valuation advisory.