Print 
Denbury Resources has entered into a Sixth Amendment to its Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. and other bank lenders.
Certain provisions of the Amendment expanding the amount of junior lien debt the Company may incur became effective upon execution of the Amendment, and other provisions will become effective simultaneously with the closing of a private offering of $400 million aggregate principal amount of the Company's new Senior Secured Second Lien Notes due 2024.
The Amendment, among other things, extends the maturity date of the Credit Facility by two years, to December 2021, and increases the amount of junior lien debt that the Company may have outstanding by $450 million, to an aggregate total amount of $1.65 billion. In connection with the Amendment, the size of the bank group has been streamlined to 14 banks and the aggregate commitment by the banks has been reduced from $1.05 billion to $615 million, which is more than offset by the $450 million increase in junior lien debt capacity. Combined with the existing junior lien debt capacity, the Company has approximately $580 million of aggregate junior lien debt capacity under the amended Credit Facility, enabling the Company to commence the Offering today.
More Credit Facility Change News
Earthstone Energy's Credit Line Increased 21% to $1.7B
In conjunction with the closing of its recent Permian acquisition, Earthstone Energy has announced the closing of an amendment to the Company's senior secured credit facility. The lenders…
Silverbow's Borrowing Base Increased 48% to $775 Million
SilverBow Resources Inc. has received bank approval to amend its senior secured revolving credit facility to extend the maturity of the Credit Facility to October 2026, increase the…
Northern Oil's Borrowing Base Raised Over 50% to $1.3 Billion
Northern Oil and Gas, Inc. announced that on June 7, 2022, it entered into an amended and restated credit agreement governing its reserves-based revolving credit facility with Wells…
Earthstone's Credit Line Increased 6% to $1.4 Billion
Earthstone Energy Inc. has entered into an amendment to the Company's senior secured revolving credit facility, extending the maturity of the Credit Facility to June 2027, increasing the…
Ranger Oil's Credit Line Increased 20% to $875 Million
Ranger Oil Corp. announced that its borrowing base under its revolving credit facility was increased 20% to $875 million. Ranger's elected commitment under the facility remains at $400…
Rockies News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
This Operator Will Chop it's 2026 Rig Count From 34 to 24
ConocoPhillips is setting up 2026 as a lower-intensity, more efficient operating year — with the clearest proof coming from the Lower 48 activity reset following the Marathon integration.…
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…