(Source: Shutterstock/ PHX Minerals)
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.
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