Parsley Energy increases committed portion of credit facility to $500M

Parsley Energy Inc.’s (NYSE: PE) aggregate lender commitments under its revolving credit facility have been increased by $135 million to $500 million.

Aggregate commitments equal the company’s $500 million borrowing base, which was reduced by $61 million in the April 1 redetermination by its bank lending group. Parsley currently has no outstanding borrowings under its credit facility, leaving $500 million of unused borrowing capacity.

Parsley Energy is an independent oil and natural gas company focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin in West Texas.

 

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