- Riley Exploration Permian, Inc. announced the completion of an amendment to its senior secured revolving credit facility.
- The facility maturity has been extended from April 2026 to December 2028.
- The borrowing base and commitment levels increased by 7% from $375 million to $400 million.
- The credit syndicate has expanded to a total of nine lenders.
- As of December 13, 2024, the company had $117 million drawn on the credit facility with $283 million available.
- The management team and board of directors expressed gratitude to the banking syndicate partners for their continued support.
- Riley Permian focuses on the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids.
Riley Permian Announces Credit Facility Extension and Increase in Borrowing Base:
OKLAHOMA CITY, Dec. 18, 2024 /PRNewswire/ -- Riley Exploration Permian, Inc. (NYSE American: REPX) ("Riley Permian" or the "Company") today announced that it recently completed an amendment to its senior secured revolving credit facility ("Credit Facility").
Credit Facility Amendment Highlights:
- Extended the facility maturity from April 2026 to December 2028
- Increased the borrowing base and commitment levels by 7% from $375 million to $400 million
- Increased the syndicate to nine total lenders
As of December 13, 2024, the Company had $117 million drawn on the Credit Facility with $283 million of availability.
The management team and board of directors of Riley Permian extend their gratitude to the banking syndicate partners for their continued support.
About Riley Exploration Permian, Inc.
Riley Permian is a growth-oriented, independent oil and natural gas company focused on the acquisition, exploration, development and production of oil, natural gas, and natural gas liquids. For more information please visit www.rileypermian.com.
Investor Contact:
Rick D'Angelo405-438-0126
[email protected]
SOURCE Riley Exploration Permian, Inc.
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