An update from Matador Resources Company (MTDR) is now available.
MRC Energy Company has revised its credit facility, reaffirming its borrowing base at $2.5 billion, and upsizing the maximum amount to $3.5 billion with an extended maturity date to March 2029. This adjustment also includes an increase in their elected borrowing commitments to $1.5 billion and the replacement of Truist Bank with PNC Bank as the administrative agent. As of March 22, 2024, they had $570 million in outstanding borrowings and $41.7 million in letters of credit. The company publicly announced these changes through a press release on March 25, 2024.
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