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
CGG to Change Name to Viridien
2024-05-17 - The company’s new ticker symbol will be “VIRI” and listed on Euronext Paris, effective May 21.
Sector’s Appetite for Capital Remains Amid Consolidation Frenzy, Panelists Say
2024-05-17 - There’s still an appetite for capital in the oil and gas sector—companies just need to think creatively to find it, a number of panelists said during SUPER DUG in Fort Worth, Texas.
SilverBow Resets Shareholder Meeting After $2.1B Crescent Deal
2024-05-16 - SilverBow Resources said it will adjourn its May 21 shareholders’ meeting until May 29 following Crescent Energy’s agreement to buy the Eagle Ford operator.
Blue Racer Midstream Prices Senior Notes Offering
2024-05-15 - Net proceeds from the sale of senior notes will be used to pay off debt and other general corporate purposes.
Petrobras CEO Prates to Step Down
2024-05-15 - Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.