Granite Ridge swaps administrative agent, ups facility to $300 million

By William Gullotti

Buffalo, N.Y., April 4 – Granite Ridge Resources, Inc. amended its existing credit agreement dated Oct. 24, 2022 to increase the total elected commitments to $300 million from $240 million on April 1, according to an 8-K filing with the Securities and Exchange Commission.

In addition to increasing the facility capacity and increasing the size of the lender group, the amendment also named Bank of America, NA as successor administrative agent to Texas Capital Bank, the resigning administrative agent.

The borrowing base also increased to $300 million from $275 million.

No other material changes were made to the agreement.

Based in Dallas, Granite Ridge is a scaled, non-operated oil and gas exploration and production company.

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