Permian Resources Corporation
Permian Resources Announces Amendment to Credit Agreement
Summary
On April 25, 2024, Permian Resources Corporation's subsidiary, Permian Resources Operating, LLC, amended its existing Credit Agreement, increasing the aggregate elected commitments from $2.0 billion to $2.5 billion and reaffirming the borrowing base at $4.0 billion. This amendment is detailed in the Seventh Amendment to the Third Amended and Restated Credit Agreement, dated as of April 25, 2024. The amendment aims to provide the Company with additional liquidity and financial flexibility.
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About Permian Resources Corporation
Permian Resources Corporation is an energy company focused on the exploration, development, and production of oil and natural gas. Operating primarily in the prolific Permian Basin, a region known for its abundant energy reserves and efficient extraction capabilities, the company plays a significant role in the U.S. energy sector. Permian Resources Corporation employs advanced drilling and completion techniques to maximize output and ensure sustainable resource management. The company's operations significantly contribute to the supply chain of oil and gas, impacting industries ranging from transportation to manufacturing. By implementing innovative technologies and maintaining a keen focus on environmental stewardship, the company strives to optimize its production while adhering to regulatory standards. In the financial market, Permian Resources Corporation is a key player in the oil and gas industry, providing investors with exposure to the energy market's fluctuations. The company’s strategic focus on operational efficiency and its position within one of the nation's most critical oil fields underscore its importance in meeting domestic energy demands and shaping energy policy discussions.
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