secwatch.observer — SEC 8-K summary
======================================

Issuer:     Phoenix Energy One, LLC (PHXE-P)
CIK:        0001818643
Form:       8-K
Filed at:   2026-02-13T23:59:59+00:00
Accession:  0001193125-26-051726
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818643/000119312526051726/0001193125-26-051726-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818643/000119312526051726/d92637d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-051726

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer