PHX Minerals’ $50 million borrowing base has been reaffirmed with no changes to pricing, covenants or other material terms, the company said on April 18.
The maturity date for the company’s credit facility was extended to Sept. 1, 2028 from Sept. 1, 2025.
"The reaffirmation of our borrowing base demonstrates the quality and resiliency of our assets and our financial strength” Chad Stephens, PHX president and CEO, said in a news release. “We value our relationship with the bank lending group and are appreciative of their continued support and confidence in PHX."
PHX Mineral’s bank lending group is led by Independent Financial, which completed the semi-annual redetermination.
Recommended Reading
FTC OKs Exxon-Pioneer Merger, but Bars Sheffield from Exxon’s Board
2024-05-02 - A megamerger between Exxon Mobil and Pioneer Natural Resources can proceed, but Pioneer Chairman Scott Sheffield is out, the Federal Trade Commission says.
Comstock Adds Four Whopper Wildcats; Takes Western Haynesville to 450K
2024-05-01 - Comstock Resources' four newest wells, which IP’ed at more than 35 MMcf/d, were landed at up to 19,400 feet total vertical depth.
Marketed: Wylease Niobrara Shale Cloud Peak Opportunity
2024-04-30 - Wylease LLC has retained EnergyNet for the sale of working interest in the Niobrara Shale of Converse County, Wyoming in the Cloud Peak 3874-8-5-1NH.
Marketed: Wylease Niobrara Shale Opportunity
2024-04-30 - Wylease LLC has retained EnergyNet for the sale of working interest in the Misty Moon Lake 3874-17-20-1NH of Converse County, Wyoming.
Berry Bolts On More California Assets as Kern County M&A Continues
2024-03-06 - As Berry Corp. continues its aggressive hunt for growth opportunities outside of California, the E&P made a second bolt-on acquisition in Kern County in the fourth quarter.