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(NYSE: WTI) converted its $50.0 million revolving credit facility into a conventional reserve-based lending facility on October 1, 2026.
The company entered into the Second Amendment to its Credit Agreement with Texas Capital Bank, acting as administrative agent, and its bank group to implement the structural change.
The amended facility features an initial borrowing base of $50.0 million, which fully supports $50.0 million of elected commitments.
The structure allows for an aggregate maximum credit amount of $100.0 million, providing capacity to increase commitments subject to borrowing base availability and lender consent.
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