Centennial Resource Development,Inc. (NASDAQ:SRAQU) Files An 8-K Entry into a Material Definitive Agreement

Centennial Resource Development,Inc. (NASDAQ:SRAQU) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

Story continues below

The disclosure set forth under “Introductory Note” above is incorporated in this Item 1.01 by reference.

In connection with the consummation of the Acquisition, on the Closing Date, CRP entered into that certain Third Amendment to Amended and Restated Credit Agreement (the “Third Amendment”), which amends the Amended and Restated Credit Agreement, dated as of October 15, 2014, among CRP, each of the lenders and guarantors from time to time party thereto and JPMorgan Chase Bank, N.A. as administrative agent (as amended, the “Credit Agreement”).

The Third Amendment, among other things, (1) permits the Acquisition and other transactions related thereto and (2) increases the borrowing base under the Credit Agreement from $200,000,000 to $250,000,000.

The foregoing description of the Third Amendment is a summary only and is qualified in its entirety by reference to the Third Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information set forth under Item 1.01 above is incorporated in this Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The exhibits to this Current Report on Form 8-K are listed in the Exhibit Index, which appears at the end of this report and is incorporated by reference herein.



About Centennial Resource Development, Inc. (NASDAQ:SRAQU)

Centennial Resource Development, Inc., formerly Silver Run Acquisition Corporation, is an independent oil and natural gas company. The Company is focused on the development and acquisition of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets and operations, which are held and conducted through Centennial Resource Production, LLC, are concentrated in the Delaware Basin, a sub-basin of the Permian Basin. The Company has more than 40,000 net acres in the southern Delaware Basin primarily in Reeves County in West Texas. It has developed its acreage primarily in the Wolfcamp zone, and is focused on the Avalon and Bone Spring shales.

Centennial Resource Development, Inc. (NASDAQ:SRAQU) Recent Trading Information

Centennial Resource Development, Inc. (NASDAQ:SRAQU) closed its last trading session up +1.18 at 11.73 with 102,903 shares trading hands.

An ad to help with our costs