Current PE Stock Info

Parsley has full borrowing capacity available for Permian development

Permian driller Parsley Energy (ticker: PE) said it has amended its revolving credit agreement, increasing the borrowing base by 60% to $1.4 billion, with a company-elected commitment amount of $1.0 billion.

The amendment also adds five new lenders under the credit agreement:

  • Canadian Imperial Bank of Commerce, New York Branch;
  • Capital One, National Association;
  • Citibank, N.A.;
  • PNC Bank, National Association;
  • UBS AG, Stamford Branch.

Parsley said it currently has no outstanding borrowings under its credit facility.

Parsley recently closed its $2.8 billion acquisition of Double Eagle Energy, bringing its Midland basin acreage total to 179,000 and its total Permian position to 227,000 acres.

Parsley Energy’s Borrowing Base Increases to $1.4 Billion

Permian driller Parsley Energy (ticker: PE) said it has amended its revolving credit agreement, increasing the borrowing base by 60% to $1.4 billion. Parsley recently closed a large acquisition in the Midland basin.


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