Lucid gets $585 million of revolving loans via Wells Fargo, Cadence

By Susanna Moon

Chicago, March 14 – Lucid Energy Group, LLC said it refinanced with $585 million of expanded revolving credit facilities with Wells Fargo as bookrunner, administrative agent and joint lead arranger.

Lucid obtained a $235 million facility for operations in the Midland Basin and a $350 million facility for operations in the Delaware Basin, according to a company announcement.

Cadence Bank and BBVA Compass are the co-syndication agents.

The new credit facilities bring Lucid’s total financing to more than $1.45 billion, the company noted.

Dallas-based Lucid is a midstream services company formed to develop and operate new oil and gas infrastructure and related facilities.

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