EARTHSTONE ENERGY INC: debt financing — Earthstone Energy amends credit agreement; borrowing base increased to $2.0B contingent on Novo acquisition

the Amendment (i) adds JPMorgan Chase Bank, N.A. and Citibank N.A. as new Lenders, arrangers, and documentation agents for the Lenders under the Credit Agreement, (ii) increases the aggregate elected borrowing base commitments from $1,400,000,000 to $1,750,000,000, and (iii) increases the borrowing base from $1,650,000,000 to $2,000,000,000.

On July 7, 2023, but effective as of the date the conditions set forth therein are satisfied or waived (such date not to occur later than September 19, 2023), Earthstone Energy, Inc. (the “Company”), as Parent, Earthstone Energy Holdings, LLC (“EEH”), as Borrower, the guarantors party thereto, the lenders party thereto (the “Lenders”) and Wells Fargo Bank, National Association (“Wells Fargo”) as Administrative Agent and Issuing Bank, entered into that certain Ninth Amendment to the Credit Agreement (the “Amendment”), which amends that certain Credit Agreement, dated as of November 21, 2019 (the “Credit Agreement”), by and among EEH, as Borrower, the Company, as Parent, Wells Fargo, as Administrative Agent and Issuing Bank, the Lenders party thereto and the documentation agents party thereto (as amended by the Amendment and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Among other things, the Amendment