AUSTIN, Texas, April 28, 2020 /PRNewswire/ -- Parsley Energy,
Inc. (NYSE: PE) ("Parsley," "Parsley Energy," or the "Company")
today announced that it has entered into an amendment to its
revolving credit facility, which reaffirms the Company's
$2.7 billion borrowing base,
increases the elected commitment amount from $1.0 billion to $1.075
billion, and extends the maturity date by two years to
October 28, 2023.
"Extending the maturity date and increasing the commitment
amount for our credit facility in this challenging commodity
environment speaks to the credit quality of Parsley and highlights
strong support from our bank group," commented Ryan Dalton, Parsley's CFO. "These
liquidity enhancing measures are another example of the proactive
steps Parsley has taken to weather the COVID-19-driven
downturn."
For further details, please see the Company's Current Report on
Form 8-K filed with the Securities and Exchange Commission on
April 28, 2020.
About Parsley Energy, Inc.
Parsley Energy, Inc. is an independent oil and natural gas
company focused on the acquisition, development, exploration, and
production of unconventional oil and natural gas properties in the
Permian Basin. For more information, visit the Company's website at
www.parsleyenergy.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements contained in this news release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements represent Parsley Energy's expectations or beliefs
concerning future events, and it is possible that the results
described in this news release will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of Parsley Energy's
control, which could cause actual results to differ materially from
the results discussed in the forward-looking statements. Any
forward-looking statement speaks only as of the date on which it is
made, and, except as required by law, Parsley Energy does not
undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise. New factors emerge from time to time, and it is not
possible for Parsley Energy to predict all such factors. When
considering these forward-looking statements, you should keep in
mind the risk factors and other cautionary statements found in the
Company's filings with the Securities and Exchange Commission
("SEC"), including its Annual Report on Form 10-K. The risk factors
and other factors noted in the Company's SEC filings could cause
its actual results to differ materially from those contained in any
forward-looking statement.
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SOURCE Parsley Energy, Inc.