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PNC Bank Canada Provides $25MM to Canada’s Superior Coring Systems

January 17, 2013, 08:15 AM

PNC Financial Services Group announced $25 million in senior secured revolving credit for Superior Coring Systems, Inc. Headquartered in Alberta, Superior Coring provides core sampling and drilling services primarily to oil and gas producers operating within the Western Canadian Sedimentary Basin. The facility was sought to acquire five hybrid drilling rigs from Essential Energy Services Inc., a large, publicly traded company based in Calgary, and to provide for ongoing working capital needs.

The facility is being provided by PNC Bank Canada Branch, the name under which PNC Bank, National Association, a member of The PNC Financial Services Group, Inc. (NYSE: PNC) does business in Canada.

In Canada, The PNC Financial Services Group, Inc. provides equipment finance and asset-based lending.

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