Parsley Energy amended its revolving credit agreement, thereby increasing the borrowing base by 60% to $1.4 billion, with a company-elected commitment amount of $1.0 billion.

According to a related 8-K filing, Wells Fargo served as administrative agent for the lender group. JPMorgan Chase and BMO Harris Bank served as syndication agent and documentation agent, respectively.

The amendment also adds five new lenders under the credit agreement: Canadian Imperial Bank of Commerce, NY Branch; Capital One; Citibank; PNC Bank and UBS, Stamford Branch.

Austin, TX-based Parsley Energy is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin in West Texas.