Earthstone Energy increases borrowing base on revolving credit facility

Chicago, April 20 – Earthstone Energy, Inc. increased the borrowing base on its senior secured revolving credit facility to $475 million from $360 million on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

Wells Fargo Bank, NA is as administrative agent of the credit agreement originally from Nov. 21, 2019.

On the closing of the company’s previously announced acquisition of privately held assets located in the Midland Basin, the borrowing base would again be raised, to $550 million from $475 million.

Wells Fargo is an issuing bank with Bank of Texas as regards existing letters of credit.

Royal Bank of Canada is a syndication agent. Truist Bank is the documentation agent.

Earthstone is an oil and gas company based in The Woodlands, Tex.

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