Magnolia amends revolving credit facility, maximum commitments set at $1.5 billion
Magnolia Oil & Gas Operating LLC, a subsidiary of Magnolia Oil & Gas Corporation, amended and restated its senior secured reserve-based revolving credit facility on November 13, 2024. The new facility sets maximum commitments of $1.5 billion and an initial borrowing base of $800.0 million, with a maturity of November 13, 2029, subject to an earlier date tied to its 2026 notes. The filing does not include shareholder-level financial results, so its direct effect on shareholders is limited to the terms of the company's borrowing arrangements.
Key points
- Maximum commitments of $1.5 billion, with a $50.0 million letter of credit sublimit and an initial borrowing base of $800.0 million
- Maturity is November 13, 2029, or 91 days before the stated maturity of the 6.0% Senior Notes due 2026 if those notes exceed $50 million outstanding
- Covenants include a leverage ratio below 3.50 to 1.00 and a current ratio above 1.00 to 1.00; the borrowing base is redetermined semi-annually
- Full agreement filed as Exhibit 10.1, with certain schedules omitted
The filing
Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 13, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.