---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-051726"
form_type: "8-K"
ticker: "PHXE-P"
cik: "0001818643"
company_name: "Phoenix Energy One, LLC"
filed_at: "2026-02-13T23:59:59+00:00"
generated_at: "2026-05-16T02:49:42.608732+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Phoenix Energy One amends credit agreement, obtains $75M term loan and waives covenant defaults

## Summary
- Phoenix Energy One, Phoenix Operating, and Fortress Credit Corp. entered Amendment No. 8 to the senior secured credit agreement on Feb 12, 2026.
- Amendment No. 8 established $75 million in discretionary delayed draw term loan commitments, fully drawn on the effective date.
- The amendment waived compliance with the total secured leverage ratio (Dec 31, 2025), current ratio (Nov 30, 2025 - Jan 31, 2026), and asset coverage ratio (Dec 31, 2025).
- Proceeds from the $75M term loan will finance development of oil and gas properties under the approved plan.

## SEC filing metadata
- accession: 0001193125-26-051726
- form_type: 8-K
- ticker: PHXE-P
- cik: 0001818643
- company_name: Phoenix Energy One, LLC
- filed_at: 2026-02-13T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818643/000119312526051726/0001193125-26-051726-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818643/000119312526051726/d92637d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-051726
- JSON: https://secwatch.observer/filing/0001193125-26-051726.json
- Plain text: https://secwatch.observer/filing/0001193125-26-051726.txt

## Key facts
- Material Agreements
  Phoenix Energy One, LLC amended Amendment No. 8 to Amended and Restated Senior Secured Credit Agreement with Fortress Credit Corp. valued at $75 million in Amendment No. 7 Discretionary Delayed Draw Term Loan Commitments drawn, reducing avai (effective 2026-02-12).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Fortress Credit Corp.
  - Value: $75 million in Amendment No. 7 Discretionary Delayed Draw Term Loan Commitments drawn, reducing avai
  - Effective: 2026-02-12
  source text: On February 12, 2026 (the “ Amendment No. 8 Effective Date ”), the Company, Phoenix Operating, the Guarantors party thereto, the Specified Additional Guarantor, the Lenders party thereto, and Fortress entered into that certain Amendment No. 8 to Amended and Restated Senior Secured Credit Agreement (“ Amendment No. 8 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818643/000119312526051726/0001193125-26-051726-index.htm

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