Prairie Operating Co. announced the reaffirmation of its multi-year Reserve-Based Lending (RBL) credit facility with Citibank, N.A., following its semi-annual redetermination. The borrowing base was reaffirmed at $475 million, with a maximum facility size of $1.0 billion and a maturity date of March 26, 2029.
In conjunction with the redetermination, Bank of America, N.A. and West Texas National Bank have joined the lending syndicate. This expansion includes existing members Citibank, N.A., KeyBank National Association, MUFG Bank, Ltd., Truist Bank, UMB Bank, N.A., and Macquarie Bank Limited.
This reaffirmation and expansion of the syndicate underscore the confidence lenders have in Prairie's asset base and execution strategy. The facility enhances the company's financial flexibility and supports its ongoing development activities and pursuit of accretive growth opportunities in the DJ Basin.
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