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The borrowing ability of Fort Worth-based PHX Minerals Inc. is unchanged following a regularly scheduled semi-annual redetermination of the firm’s senior secured credit facility.
Following the review, the facility reaffirmed PHX’s existing $50 million borrowing base with no changes to pricing, covenants or other material terms, according to a company announcement.
Further, the Maturity Date of the credit facility was extended from Sept. 1, 2025, to Sept. 1, 2028.
“The reaffirmation of our borrowing base demonstrates the quality and resiliency of our assets and our financial strength,” stated Chad Stephens, President and CEO.
“We value our relationship with the bank lending group and are appreciative of their continued support and confidence in PHX.”
PHX Minerals is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core focus areas. PHX owns mineral acreage principally located in Oklahoma, Texas, Louisiana, North Dakota and Arkansas.
