Financing ·
Amends credit agreement to allow secured junior lien notes and waives current ratio covenant
PHXE-PPhoenix Energy One, LLC
Phoenix Energy One entered into Amendment No. 11 to its Senior Secured Credit Agreement, permitting the issuance of secured junior lien notes subject to specific conditions. The amendment also granted a waiver for the Current Ratio requirement during calendar months ending between April 30, 2026, and December 31, 2026, allowing the ratio to fall below 0.90 to 1.00. Additionally, the filing discloses a Wellbore Participation Plan enabling employees to acquire non-operating working interests in company wells. Phoenix Energy One operates in the oil and gas industry.