Aethon United Announces Completion of Amended Credit Agreement
DALLAS–(BUSINESS WIRE)–Aethon United BR LP (“Aethon United,” “we,” “us” or “our”) on September 27, 2024 entered into an Amendment No. 18 (the “Amendment”) to that certain Credit Agreement, dated as of July 1, 2016, with JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”), and certain lenders and issuing banks party thereto (as amended by the Amendment, and as further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”).
The Amendment, among other things, (i) reaffirmed the $1.15 billion borrowing base and aggregate elected commitments under the Credit Agreement at $1.0 billion and (ii) extended the Credit Agreement’s maturity date to September 27, 2029.
The foregoing summaries and descriptions of the Credit Agreement and the Amendment do not purport to be complete and are qualified in their entirety by reference to the full text of the Amendment.
About Aethon United
Aethon United is a natural gas company primarily engaged in the development, exploitation and exploration of natural gas properties and is one of the largest privately held producers in the Haynesville Basin of East Texas and North Louisiana. Our vertically integrated strategy drives peer-leading operating margins and significant cash flow assurance with more than 800 miles of natural gas gathering pipelines and over 1.75 Bcf/d of treating capacity. Aethon’s large, concentrated position in the Haynesville, proximity to Gulf Coast markets, scalable development program and low-cost midstream access provides one of the lowest cost structures and lower emissions profiles among natural gas producers in the Lower 48. Aethon United is managed by Aethon Energy Management.
About Aethon Energy Management
Aethon Energy Management is a private investment firm and registered investment adviser that manages closed-end funds and joint ventures focused on acquiring, operating, and developing onshore energy resources across North America. Headquartered in Dallas, TX, Aethon and its affiliates have deployed more than $9 billion over a 34-year track record while generating attractive returns for its fund investors across multiple commodity price cycles. Aethon’s vertically integrated strategy provides capital efficient growth, combined with disciplined risk management to support cash flow assurance. Today, Aethon is a leading, low-emission operator and one of the largest private natural gas producers and suppliers to LNG facilities in the U.S., including more than 1,700 miles of pipeline infrastructure.
Forward-Looking and Cautionary Statements
The information in this includes “forward-looking statements.” All statements included in this press release regarding the Debt Financing and the use of proceeds therefrom, including the Tender Offer and the timing and outcome thereof and the Redemption, our strategy, plans and objectives of management, are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “plan,” “believe,” “anticipate,” “intend,” “estimate,” “expect” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.
Should one or more of the risks or uncertainties described in this press release occur, or should any underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue.
Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
Contacts
Clayton McGratty
Phone: +1 (214) 356-7959
Email: cmcgratty@aethonenergy.com
Matthew Cain
Phone: +1 (214) 499-3349
Email: mcain@aethonenergy.com
Andrew Von Kerens
Phone: +1 (817) 456-2280
Email: avonkerens@aethonenergy.com
