Ranger Oil amends agreement to up commitments and borrowing base

By Mary-Katherine Stinson

Lexington, Ky., Sept. 28 – Ranger Oil Corp. entered into the master assignment, agreement and amendment to the credit agreement among subsidiary ROCC Holdings, LLC (formerly known as Penn Virginia Holdings, LLC) as borrower and Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the total elected commitment amounts and the borrowing base.

The total elected commitment amounts increased to $500 million from $400 million and the borrowing base was increased to $950 million from $875 million.

Amendment No. 13 amends the credit agreement dated Sept. 12, 2016.

Wells Fargo Securities, LLC, Citibank, NA, Canadian Imperial Bank of Commerce, New York Branch, Bank of America, NA, Royal Bank of Canada and Truist Securities, Inc. are the joint lead arrangers and joint bookrunners on the 2016 credit agreement.

Houston-based Ranger Oil is a natural gas supplier.

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