PARSLEY ENERGY: Parsley Energy Announces Increase To Commitment Amount, Reaffirmed Borrowing Base, And Extension Of Maturity Date For Its Revolving Credit Facility

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Parsley Energy issued the following announcement on April 28.

Parsley Energy, Inc. (NYSE: PE) ("Parsley," "Parsley Energy," or the "Company") announced that it has entered into an amendment to its revolving credit facility, which reaffirms the Company's $2.7 billion borrowing base, increases the elected commitment amount from $1.0 billion to $1.075 billion, and extends the maturity date by two years to October 28, 2023.

"Extending the maturity date and increasing the commitment amount for our credit facility in this challenging commodity environment speaks to the credit quality of Parsley and highlights strong support from our bank group," commented Ryan Dalton, Parsley's CFO.  "These liquidity enhancing measures are another example of the proactive steps Parsley has taken to weather the COVID-19-driven downturn."

Original source can be found here.