Earthstone Energy entered into a new credit facility with a maturity date of November 21, 2024, a maximum credit amount of $1.5 billion and an initial borrowing base of $325 million.
Wells Fargo Securities and RBC Capital Markets acted as joint lead arrangers for the syndication of the new credit facility, and Wells Fargo Bank is acting as administrative agent.
“We are very pleased to put our new credit facility in place and extend the maturity to five years. We greatly appreciate the ongoing support from our lending group, each member of which has a prior positive lending history with Earthstone or our management team in prior entities. 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,” said Robert J. Anderson, Earthstone’s president.
Earthstone Energy is a growth-oriented, independent energy company engaged in development and operation of oil and natural gas properties.