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
Targa to Proceed with Permian Basin Apex Pipeline After All
2024-05-02 - Targa Resources expects to take a final investment decision for the Apex pipeline out of the Permian Basin before the end of the year.
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.
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.
Kinetik Holdings Enters Agreement to Pay Debt
2024-04-04 - Kinetik Holdings entered an agreement with PNC Bank to pay down outstanding debt.
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.