PR · Permian Resources Corporation

Permian Resources Operating, LLC, a consolidated subsidiary of Permian Resources Corporation (NYSE: PR), refinanced its credit facility by entering into a new $3.0 billion senior unsecured revolving credit agreement on April 30, 2026, administered by JPMorgan Chase Bank, N.A. This replaces the prior facility, which had a $4.0 billion borrowing base and $2.5 billion in elected commitments set to mature in February 2028, terminated without penalty. The new facility extends maturity to April 30, 2031, with options for one-year extensions requiring consent from lenders holding over 50% of commitments, providing longer-term liquidity flexibility. Commitments can increase to $4.0 billion, matching the prior borrowing base, and include swingline and letter of credit subfacilities for operational needs. Pricing is investment-grade appropriate, tied to OpCo's senior unsecured debt rating, with current SOFR margin at 150 basis points, ABR at 50 basis points, and 20 basis points commitment fee, reflecting strong credit metrics. The sole financial covenant limits Total Indebtedness to Capitalization Ratio at 65%, customary for such agreements, supporting balance sheet discipline amid potential expansion. This refinancing enhances funding capacity and tenor without early termination costs, signaling lender confidence in Permian Resources' operations.