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
Well Logging Could Get a Makeover
2024-02-27 - Aramco’s KASHF robot, expected to deploy in 2025, will be able to operate in both vertical and horizontal segments of wellbores.
Shell Brings Deepwater Rydberg Subsea Tieback Onstream
2024-02-23 - The two-well Gulf of Mexico development will send 16,000 boe/d at peak rates to the Appomattox production semisubmersible.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Remotely Controlled Well Completion Carried Out at SNEPCo’s Bonga Field
2024-02-27 - Optime Subsea, which supplied the operation’s remotely operated controls system, says its technology reduces equipment from transportation lists and reduces operation time.
Tech Trends: Halliburton’s Carbon Capturing Cement Solution
2024-02-20 - Halliburton’s new CorrosaLock cement solution provides chemical resistance to CO2 and minimizes the impact of cyclic loading on the cement barrier.