---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000471"
form_type: "8-K"
ticker: null
cik: "0001696088"
company_name: "ENERGY RESOURCES 12, L.P."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T19:02:52.528312+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Energy Resources 12 enters $20M revolver with BancFirst; initial borrowing base $10M

## Summary
- $20M maximum revolving credit facility; initial borrowing base of $10M, redetermined semi-annually based on proven oil & gas reserves.
- $1.5M borrowed at May 2, 2024 closing; interest rate = WSJ Prime + 0.50% (currently 9.00%) with 4.50% floor.
- Maturity March 1, 2026; first-lien mortgage on ≥80% of producing wells secures the facility.
- Covenants require minimum debt service coverage ratio and current ratio; distributions limited only if debt service coverage is in default.
- Upfront fees $100,000; 0.25% unused facility fee; 0.50% fee on borrowing base increases.

## SEC filing metadata
- accession: 0001185185-24-000471
- form_type: 8-K
- cik: 0001696088
- company_name: ENERGY RESOURCES 12, L.P.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1696088/000118518524000471/0001185185-24-000471-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1696088/000118518524000471/er1220240506_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000471
- JSON: https://secwatch.observer/filing/0001185185-24-000471.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000471.txt

## Key facts
- Debt Financings
  ENERGY RESOURCES 12, L.P. incurred revolving credit of $20 million with BancFirst at Wall Street Journal Prime Rate plus 0.50%, with a floor of 4.50% maturing March 1, 2026.
  - Instrument: revolving credit
  - Principal: $20 million
  - Counterparty: BancFirst
  - Rate: Wall Street Journal Prime Rate plus 0.50%, with a floor of 4.50%
  - Maturity: March 1, 2026
  - Event: incurrence
  source text: On May 2, 2024, the Partnership and its wholly-owned subsidiary, as borrowers, entered into a loan agreement (“Loan Agreement”) with BancFirst (the “Lender”), which provides for a revolving credit facility (“Credit Facility”) with an approved maximum credit amount (“Maximum Credit Amount”) of $20 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1696088/000118518524000471/0001185185-24-000471-index.htm
- Material Agreements
  ENERGY RESOURCES 12, L.P. entered into Loan Agreement with BancFirst valued at $20 million revolving credit facility, initial borrowing base $10 million (effective 2024-05-02).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: BancFirst
  - Value: $20 million revolving credit facility, initial borrowing base $10 million
  - Effective: 2024-05-02
  source text: On May 2, 2024, the Partnership and its wholly-owned subsidiary, as borrowers, entered into a loan agreement (“Loan Agreement”) with BancFirst (the “Lender”), which provides for a revolving credit facility (“Credit Facility”) with an approved maximum credit amount (“Maximum Credit Amount”) of $20 million, subject to borrowing base restrictions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1696088/000118518524000471/0001185185-24-000471-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.