EXTRACTION OIL & GAS, INC. (NASDAQ:XOG) Files An 8-K Entry into a Material Definitive Agreement
Entry into a Material Definitive Agreement.
Amendment to Credit Agreement
On January 8, 2019, Extraction Oil & Gas, Inc. (the “Company”) entered into that certain Consent and Amendment No. 6 to Amended and Restated Credit Agreement (the “Amendment”), which amends that certain Amended and Restated Credit Agreement, dated August16, 2017 (as amended and modified, the “Credit Agreement”), each by and among the Company, as borrower, certain subsidiaries of the Company, as guarantors (the “Guarantors”), the lenders party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as administrative agent for the Lenders and as issuing lender.
The Amendment, among other things, amends the Credit Agreement to permit prepayments and redemptions of the Company’s unsecured bonds, subject to certain terms, conditions and financial thresholds. The Amendment also contains customary representations, warranties and agreements by the Company and each Guarantor.
The foregoing description is qualified in its entirety by reference to the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated into this Current Report on Form 8-K by reference.
Creation of a Direct Financial Obligation
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Financial Statements and Exhibits.
Consent and Amendment No. 6 to Amended and Restated Credit Agreement, dated as of January 8, 2019, by and among Extraction Oil & Gas, Inc., as borrower, certain of its subsidiaries, as guarantors, the lenders party thereto, and Wells Fargo Bank, National Association, as administrative agent and issuing lender.
Extraction Oil & Gas, Inc. Exhibit
EX-10.1 2 exhibit101amendment6tocred.htm EXHIBIT 10.1 Exhibit Exhibit 10.1AMENDMENT NO. 6 TOAMENDED AND RESTATED CREDIT AGREEMENTThis Amendment No. 6 to Amended and Restated Credit Agreement (this “Agreement”) dated as of January 8,…
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About EXTRACTION OIL & GAS, INC. (NASDAQ:XOG)
Extraction Oil & Gas, Inc., formerly Extraction Oil & Gas, LLC, is an energy company. It is focused on the acquisition, development and production of oil, natural gas and natural gas liquids (NGL) reserves in the Rocky Mountains, primarily in the Wattenberg Field of the Denver-Julesburg Basin (the DJ Basin) of Colorado. It focuses on the development of the Codell and Niobrara formations. It offers its exploration and production processes in various steps, such as seismic, site preparation, drilling the well, completing the well, monitoring the well and reclaiming the site. The Company utilizes sound walls to mute or redirect noise caused by its operations. The Company uses an electric rig to manage its drilling operations. It uses vapor recovery units to capture emissions from storage facilities. It uses lease automatic custody transfer (LACT) units to collect oil from tanks in a closed-loop system that manages air emissions associated with the oil gathering and transportation process.