(Reuters) - Oilfield services company Hunting Plc (L:HTG) said it amended the terms of its credit facility after reporting a first-half loss due to low commodity prices.
Under the new terms, the size of the facility was cut to $200 million (£150.26 million) from $350 million, dividends are suspended until June 30 2018, and annual capital expenditure for 2017 and 2018 was capped at $30 million each, the company said.
Hunting, which provides drilling tools to oil and gas producers, posted an underlying loss from operations of $50.8 million for the six months to June 30 from a profit of $20.4 million a year earlier.