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
Waha NatGas Prices Go Negative
2024-03-14 - An Enterprise Partners executive said conditions make for a strong LNG export market at an industry lunch on March 14.
Targa Expects Another Major Permian Pipeline Project This Year
2024-05-03 - Targa Resources says different projects are falling in place for gas capacity expansion
Summit Midstream Launches Double E Pipeline Open Season
2024-04-02 - The Double E pipeline is set to deliver gas to the Waha Hub before the Matterhorn Express pipeline provides sorely needed takeaway capacity, an analyst said.
Kinder Morgan Sees Need for Another Permian NatGas Pipeline
2024-04-18 - Negative prices, tight capacity and upcoming demand are driving natural gas leaders at Kinder Morgan to think about more takeaway capacity.
Enbridge Fortifies Dominant Role in Corpus Christi Crude Transport
2024-03-20 - Colin Gruending, Enbridge executive vice president and president for liquids pipelines told Hart Energy the company’s holdings in South Texas are akin to a “catcher’s mitt” for Permian and Haynesville production.