Vine Energy amends loan, revising minimum hedging requirement

By Sara Rosenberg

New York, July 1 – Vine Energy Holdings LLC amended its second-lien term loan to adjust the minimum hedging requirement, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The amendment provides that for the 24-month period following the original closing date, and for the 24-month period following the delivery of either an annual or mid-year reserve report, 70% of expected production from proved developed producing reserves is required to be hedged.

Prior to the amendment, 70% of total expected production was required to be hedged.

The amendment was completed on June 29.

Morgan Stanley Senior Funding Inc. is the administrative agent on the loan.

Vine Energy is a Plano, Tex.-based energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.