Energy 11, L.P.: debt financing — Energy 11 extends credit facility to March 2026, borrowing base cut to $20M

Energy 11, L.P.

Borrowing base reduced from $30M to $20M effective March 1, 2024.
Maturity extended by two years to March 1, 2026; $100,000 amendment fee paid.
Administrative fee waived as BancFirst becomes sole lender; $0 outstanding at execution.
Semiannual redetermination retained; annual reserve report now required only once per year.
Fifth Amendment modifies change-of-control definition and title-information requirements.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Energy 11, L.P. amended revolving credit of $20,000,000 with BancFirst maturing March 1, 2026.

Instrument: revolving credit
Principal: $20,000,000
Counterparty: BancFirst
Maturity: March 1, 2026
Event: amendment

Exact text from the filing

to March 1, 2026 (“Revised Maturity Date”). Key terms and conditions of the Fifth Amendment include: ● As of the Effective Date, the borrowing base of the BF Credit Facility is $20,000,000. ● As amended, the Partnership remains subject to a semiannual redetermination of its borrowing base, but the Partnership is only required to perform an annual analysis of its

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Energy 11, L.P. amended Fifth Amendment with BancFirst valued at $100,000 (effective 2024-03-01).

Action: amendment
Agreement: credit facility
Counterparty: BancFirst
Value: $100,000
Effective: 2024-03-01

Exact text from the filing

On February 27, 2024, the Partnership and the Lender entered into an amendment (“Fifth Amendment”) to the BF Loan Agreement, effective March 1, 2024 (“Effective Date”), that renewed and extended the BF Credit Facility for two additional years to March 1, 2026 (“Revised Maturity Date”).

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Source: SEC EDGAR

accession 0001185185-24-000194

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