GENIE ENERGY LTD. (NYSE:GNE) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

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

On April 4, 2017, Genie Retail Energy, Inc. (GRE), IDT Energy,
Inc., subsidiaries of Genie Energy Ltd. (the Registrant), and
certain other subsidiaries entered into a Credit Agreement (the
Credit Agreement) with Vantage Commodities Financial Services II,
LLC (Vantage) for a $20 million revolving loan facility (the
Credit Facility). On April 4, 2017, GRE borrowed $4.3 million
under the Credit Facility, which includes $1.8 million that was
previously outstanding under a credit facility between Vantage
and certain subsidiaries of the Registrant that was terminated in
connection with the entry into the Credit Agreement. The
borrowers consist of the Registrants subsidiaries that operate
retail energy provider businesses. The borrowers have provided as
collateral a security interest in their receivables, bank
accounts, customer agreements, certain other material agreements
and related commercial and intangible rights. Outstanding
principal amount incurs interest at LIBOR plus 4.5% per annum.
Interest is payable monthly and all outstanding principal and any
accrued and unpaid interest is due on the maturity date of April
3, 2020. The borrowers are required to comply with various
affirmative and negative covenants, including maintaining a
target tangible net worth during the term of the Credit
Agreement.

Item7.01. Regulation FD

On April 5, 2017, the Registrant issued a press release
announcing its entry into the Credit Agreement described in
Item2.03 above. The Registrant is furnishing the information
contained in this Report, including the press release, to Item
7.01 of Form 8-K promulgated by the Securities and Exchange
Commission (the SEC). This information shall not be deemed to be
filed with the SEC or incorporated by reference into any other
filing with the SEC.

Item9.01 Financial Statements and
Exhibits.

About GENIE ENERGY LTD. (NYSE:GNE)

Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc. The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc. and Residents Energy, Inc., and energy brokerage and marketing services. Its REP businesses resell electricity and natural gas to residential and small business customers. The Afek segment operates an oil and gas exploration project. The GOGAS segment is an oil and gas exploration company. The GOGAS segment consists of early-stage oil shale projects, including its interest in Genie Mongolia, Inc., an oil shale exploration project; American Shale Oil Corporation, which holds and manages an interest in AMSO, LLC, an oil shale development project, and Israel Energy Initiatives, Ltd., an oil shale development project.

GENIE ENERGY LTD. (NYSE:GNE) Recent Trading Information

GENIE ENERGY LTD. (NYSE:GNE) closed its last trading session up +0.03 at 7.43 with 198,521 shares trading hands.