Earthstone raises elected commitments on revolver to $1.75 billion

By Wendy Van Sickle

Columbus, Ohio, July 11 – Earthstone Energy, Inc. amended its senior secured revolving credit facility to increase elected commitments to $1.75 billion from $1.4 billion, according to an 8-K filing with the Securities and Exchange Commission.

Also, JPMorgan Chase Bank, NA and Citibank NA were added as new lenders, arrangers and documentation agents.

Further, the borrowing base was redetermined at $2 billion from $1.65 billion.

The amendment is conditioned upon, among other things, the closing of the previously announced acquisition of Novo Oil & Gas Holding, LLC.

Wells Fargo Bank, NA is the administrative agent.

In addition to JPMorgan and Citibank, bookrunners and lead arrangers include Wells Fargo Securities, LLC, RBC Capital Markets, Truist Securities, Inc., Citizens Bank, NA, KeyBanc Capital Markets Inc., U.S. Bank NA, Fifth Third Bank, PNC Capital Markets LLC, BofA Securities, Inc., Mizuho Bank, Ltd. and Capital One, NA.

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

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