Parsley Energy, Inc. announced that the company amended its revolving credit agreement, thereby increasing the borrowing base by 60% to $1.4 billion, with a company-elected commitment amount of $1.0 billion. Wells Fargo Bank served as administrative agent, according to an SEC filing.
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; and UBS AG, Stamford Branch.
Parsley currently has no outstanding borrowings under its credit facility.