01—Abstract
Summary
Summary of the 8-K filed May 6, 2025. Cited figures are marked; the original filing is the authoritative source.
Permian Resources Corporation disclosed in this Form 8-K that its operating subsidiary, Permian Resources Operating, LLC ("OpCo"), entered into the Ninth Amendment to its Third Amended and Restated Credit Agreement on April 30, 2025.
The administrative agent is JPMorgan Chase Bank, N.A. The amendment reaffirmed the borrowing base at $4.0 billiona and the aggregate elected commitments at $2.5 billion. The amendment also extended the Permitted Pari Term Loan Debt basket to April 24, 2026.
The filing describes this as a summary and incorporates the full Ninth Amendment by reference as Exhibit 10.1. The filing reports no other financial results or operating metrics.
For investors, the key takeaway is that the company's revolving credit facility capacity was maintained at existing levels, and flexibility for pari passu term loan debt was extended for about one year. Investors should review Exhibit 10.1 for the full terms.
02—Key points
Key Highlights
- OpCo entered into the Ninth Amendment to its Third Amended and Restated Credit Agreement on April 30, 2025, with JPMorgan Chase Bank, N.A. as administrative agent.
- The borrowing base was reaffirmed at $4.0 billion.
- Aggregate elected commitments were reaffirmed at $2.5 billion.
- The Permitted Pari Term Loan Debt basket was extended to April 24, 2026.
- The full amendment is filed as Exhibit 10.1 and incorporated by reference.
- The filing is disclosed under Items 1.01 (Entry into a Material Definitive Agreement), 2.03 (Creation of a Direct Financial Obligation) and 9.01 (Exhibits).
03—Questions
Frequently Asked Questions
What did Permian Resources change in its credit agreement?
Under the Ninth Amendment, the borrowing base was reaffirmed at $4.0 billion and aggregate elected commitments were reaffirmed at $2.5 billion. The amendment also extended the Permitted Pari Term Loan Debt basket to April 24, 2026.
Who is the party that entered into the amendment?
The amendment was entered into by Permian Resources Operating, LLC (OpCo), a consolidated subsidiary of Permian Resources Corporation, with each of the lenders and guarantors party thereto and JPMorgan Chase Bank, N.A. as administrative agent.
When was the Ninth Amendment entered into?
The Ninth Amendment was entered into on April 30, 2025, and is dated as of that same date.
Where can investors find the complete terms of the amendment?
The full Ninth Amendment is attached to the filing as Exhibit 10.1, and the summary in the 8-K is qualified in its entirety by reference to that exhibit.
04—Continue