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PHX Minerals Inc. has entered into an agreement with Bank of Oklahoma (BOK) during its borrowing base redetermination to amend its revolving credit facility.
The amended facility sets the Company's borrowing base at $29 million effective April 7, 2021, and the maturity of the credit facility is extended to Nov. 30, 2023. Additionally, the quarterly commitment reduction is decreased to $500,000.
As of March 31, 2021, PHX had $23.5 million of debt outstanding, down $3.5 million from the quarter ended Dec. 31, 2020.
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