Earthstone Energy gets five-year revolver for up to $1.5 billion

By Wendy Van Sickle

Columbus, Ohio, Nov. 21 – Earthstone Energy, Inc. entered into a new senior secured revolving credit facility with a maximum credit amount of $1.5 billion and an initial borrowing base of $325 million, according to a news release on Thursday.

The maturity date is Nov. 21, 2024.

Wells Fargo Securities, LLC and RBC Capital Markets acted as joint lead arrangers. Wells Fargo Bank, NA is the administrative agent.

“The new credit facility helps secure substantial liquidity for the company while maintaining a simple capital structure as we continue to grow our production base and create shareholder value,” Robert J. Anderson, Earthstone’s president, said in the release.

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

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