WildHorse Resource Development Corporation (NYSE:WRD) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
Third Amendment to Credit Agreement
On October4, 2017, WildHorse Resource Development Corporation (the “Company”), Wells Fargo Bank, National Association, as administrative agent (the “Administrative Agent”), and the other parties thereto entered into a third amendment to the Credit Agreement, dated as of December19, 2016 (as amended, the “Credit Agreement”), by and among the Company, the Administrative Agent and the other agents and lenders party thereto (the “Third Amendment”). The Third Amendment, among other things, increases (i)the Borrowing Base (as defined in the Credit Agreement) from $612,500,000 to $875,000,000 and (ii)the Aggregate Elected Commitment Amounts (as defined in the Credit Agreement) to $875,000,000, subject to the other terms and conditions of the Third Amendment and the Credit Agreement.
The representations and warranties of the Company and its subsidiaries in the Third Amendment were made only for purposes of that agreement and as of specific dates and were solely for the benefit of the lenders party thereto. The Third Amendment is a contractual document that establishes and governs the legal relations among the parties thereto and is not intended to be a source of factual, business, or operational information about the Company and its subsidiaries or their future activities. Accordingly, such representations and warranties in the Third Amendment should not be relied upon as characterizations of the actual state of facts, circumstances or plans.
Certain of the lenders under the Credit Agreement and their respective affiliates have, from time to time, performed, and may in the future perform, various financial advisory, commercial and investment banking services for the Company and its subsidiaries, for which they received or will receive customary fees and expenses. Certain affiliates of the lenders under the Credit Agreement have acted, and may in the future act, as underwriters of certain of the Company’s debt and equity issuances.
The foregoing summary of the Third Amendment is not complete and is qualified in its entirety by reference to the full text of the Third Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 1.01. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The description of the Third Amendment above under Item 1.01 is incorporated in this Item 1.01 by reference.
| Item 1.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit Number |
Description |
| 10.1 | Third Amendment to Credit Agreement, dated as of October 4, 2017, by and among WildHorse Resource Development Corporation, each of the guarantors party thereto, and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders party thereto, BMO Harris Bank, N.A., as Syndication Agent, the Lenders party thereto and the other parties party thereto. |
WildHorse Resource Development Corp ExhibitEX-10.1 2 d396944dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 Execution Version THIRD AMENDMENT TO CREDIT AGREEMENT This THIRD AMENDMENT TO CREDIT AGREEMENT (this “Third Amendment”),…To view the full exhibit click here
About WildHorse Resource Development Corporation (NYSE:WRD)
WildHorse Resource Development Corporation is a holding company. The Company is an independent oil and natural gas company. The Company is focused on the acquisition, exploitation, exploration and development of oil, natural gas and natural gas liquid (NGL) resources in the United States. Its assets are characterized by concentrated acreage positions in Southeast Texas and North Louisiana with multiple producing stratigraphic horizons, or stacked pay zones, and single-well rates of return. In Southeast Texas, it operates in Burleson, Lee and Washington Counties where it primarily targets the Eagle Ford Shale (Eagle Ford Acreage), which is an active shale trends in North America. In North Louisiana, the Company operates in and around the Terryville Complex, where it primarily targets the overpressured Cotton Valley play (North Louisiana Acreage). The Company’s subsidiaries include WildHorse Resources II, LLC (WildHorse) and Esquisto and Acquisition Co.
