Earthstone Energy, Inc. Announces New Five-Year Revolving Credit Facility with $325 Million Borrowing Base
November 25, 2019
Source: Business Wire
Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”), announced today it entered into a new credit agreement with respect to its senior secured revolving credit facility (the “New Credit Facility”). The New Credit Facility has a maturity date of November 21, 2024 with a maximum credit amount of $1.5 billion and an initial borrowing base of $325 million. Wells Fargo Securities, LLC and RBC Capital Markets acted as Joint Lead Arrangers for the syndication of the New Credit Facility and Wells Fargo Bank, National Association is acting as Administrative Agent.
Robert J. Anderson, Earthstone’s President, commented, “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.”
About Earthstone Energy, Inc.
Earthstone Energy, Inc. is a growth-oriented, independent energy company engaged in development and operation of oil and natural gas properties. The Company’s primary assets are located in the Midland Basin of west Texas and the Eagle Ford Trend of south Texas. Earthstone is traded on NYSE under the symbol “ESTE.” For more information, visit the Company’s website at www.earthstoneenergy.com.
Contacts
Mark Lumpkin, Jr.
Executive Vice President – Chief Financial Officer
Earthstone Energy, Inc.
1400 Woodloch Forest Drive, Suite 300
The Woodlands, TX 77380
281-298-4246
mark.lumpkin@earthstoneenergy.com
Scott Thelander
Vice President of Finance
Earthstone Energy, Inc.
1400 Woodloch Forest Drive, Suite 300
The Woodlands, TX 77380
281-298-4246
scott@earthstoneenergy.com
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