How large is the new credit facility and when does it mature?

The New Credit Agreement provides for a $3.0 billion senior unsecured credit facility with a scheduled maturity of April 30, 2031. OpCo has an option to extend the term in successive one-year periods, subject to conditions including consent of lenders holding more than 50% of commitments.

How is the cost of borrowing determined under the new facility?

Borrowings accrue interest at OpCo's option at SOFR plus an applicable margin or the Alternate Base Rate plus a margin. The margin and commitment fee depend on OpCo's credit rating for senior unsecured debt. As of April 30, 2026, the SOFR margin is 150 basis points, the Alternate Base Rate margin is 50 basis points, and the commitment fee is 20 basis points.

What financial covenant applies to the new credit agreement?

The agreement requires OpCo to maintain a Total Indebtedness to Capitalization Ratio, as defined in the agreement, of no greater than 65%.

What happened to the prior credit facility?

OpCo terminated its Third Amended and Restated Credit Agreement dated February 18, 2022, in connection with entering the New Credit Agreement. The prior facility was set to mature in February 2028, and as of April 30, 2026, it had a borrowing base of $4.0 billion and $2.5 billion in elected commitments. The termination was without penalty.

PR 8-K: Material Agreements & Financial Events

01—Abstract

Summary

Summary of the 8-K filed May 6, 2026. Cited figures are marked; the original filing is the authoritative source.

Permian Resources Corporation (NYSE: PR) disclosed that its operating subsidiary, Permian Resources Operating, LLC ("OpCo"), entered into a new $3.0 billion^a senior unsecured credit facility on April 30, 2026, with JPMorgan Chase Bank, N.A. as administrative agent.

The New Credit Agreement has a scheduled maturity of April 30, 2031, with an option to extend in one-year increments subject to lender consent, and allows OpCo to request commitment increases up to $4.0 billion^b. It includes swingline and letter of credit subfacilities. Pricing is tied to OpCo's credit rating on its senior unsecured debt.

As of April 30, 2026, the applicable margin is 150 basis points for SOFR loans, 50 basis points for Alternate Base Rate loans, and the commitment fee is 20 basis points. The agreement includes a financial covenant requiring a Total Indebtedness to Capitalization Ratio of no greater than 65%^c, and OpCo describes its other terms as customary for investment grade, senior unsecured commercial bank credit agreements. In connection with the new facility, OpCo terminated its Prior Credit Agreement, dated February 18, 2022, which was set to mature in February 2028.

As of April 30, 2026, that facility had a borrowing base of $4.0 billion^d and $2.5 billion in elected commitments. The termination was without penalty. The filing also notes that the lenders and their affiliates have performed and may perform financial advisory and investment banking services for the Company, for which they received or will receive customary fees.

02—Key points

Key Highlights

OpCo entered into a new $3.0 billion senior unsecured credit facility on April 30, 2026, maturing April 30, 2031, with an option for one-year extensions.
The New Credit Agreement allows OpCo to request commitment increases up to $4.0 billion, subject to terms and conditions.
Pricing is 150 basis points over SOFR and 50 basis points over the Alternate Base Rate, with a 20 basis point commitment fee, based on OpCo's credit rating as of April 30, 2026.
A financial covenant requires a Total Indebtedness to Capitalization Ratio of no greater than 65%.
The new facility replaces the Prior Credit Agreement, which had a borrowing base of $4.0 billion and $2.5 billion in elected commitments and was set to mature in February 2028.
The Prior Credit Agreement was terminated without penalty.
The filing includes the New Credit Agreement as Exhibit 10.1, with certain schedules omitted and confidential portions redacted.

03—Questions

Frequently Asked Questions

How large is the new credit facility and when does it mature?
The New Credit Agreement provides for a $3.0 billion senior unsecured credit facility with a scheduled maturity of April 30, 2031. OpCo has an option to extend the term in successive one-year periods, subject to conditions including consent of lenders holding more than 50% of commitments.
How is the cost of borrowing determined under the new facility?
Borrowings accrue interest at OpCo's option at SOFR plus an applicable margin or the Alternate Base Rate plus a margin. The margin and commitment fee depend on OpCo's credit rating for senior unsecured debt. As of April 30, 2026, the SOFR margin is 150 basis points, the Alternate Base Rate margin is 50 basis points, and the commitment fee is 20 basis points.
What financial covenant applies to the new credit agreement?
The agreement requires OpCo to maintain a Total Indebtedness to Capitalization Ratio, as defined in the agreement, of no greater than 65%.
What happened to the prior credit facility?
OpCo terminated its Third Amended and Restated Credit Agreement dated February 18, 2022, in connection with entering the New Credit Agreement. The prior facility was set to mature in February 2028, and as of April 30, 2026, it had a borrowing base of $4.0 billion and $2.5 billion in elected commitments. The termination was without penalty.

04—Continue

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