Vine Energy Inc. Announces Amendment to Second Lien Term Loan
01 Luglio 2021 - 1:30PM
Business Wire
Vine Energy Inc. (NYSE: VEI) announced that its subsidiary, Vine
Energy Holdings LLC, has amended its second lien term loan
agreement to effectively reduce the amount of future natural gas
production that is required to be subject to hedging. Specifically,
for the 24-month period following the original closing date, and
for the 24-month period following the delivery of either an annual
or mid-year reserve report, 70% of expected production from proved
developed producing reserves is now required to be hedged.
Previously, 70% of total expected production was required to be
hedged.
Commenting on the amendment to the Company’s second lien term
loan agreement, Chairman, President & CEO Eric Marsh stated,
“This amendment meaningfully reduces the required hedging under our
credit agreements and aligns the requirements of our reserve-based
lending facility with our second lien term loan. While the use of
derivatives to manage commodity price exposure will remain an
important part of our strategy, we now have greater flexibility to
manage our business in better alignment with our improved capital
structure post our initial public offering this past March. We
would like to thank our second lien term loan lenders for working
with us on this amendment.”
About Vine Energy Inc.
Vine Energy Inc., based in Plano, Texas, is an energy company
focused on the development of natural gas properties in the stacked
Haynesville and Mid-Bossier shale plays in the Haynesville Basin of
Northwest Louisiana. The Company is listed on the New York Stock
Exchange under the symbol “VEI”.
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version on businesswire.com: https://www.businesswire.com/news/home/20210701005115/en/
David Erdman (469) 605-2480 IR@VineEnergy.com
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