Energy 11 LP
02/25/2026 | Press release | Distributed by Public on 02/25/2026 08:31
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01 - Entry into a Material Definitive Agreement
On February 20, 2026, the Partnership and its wholly-owned subsidiary, as borrowers, and BancFirst, as administrative agent and lender ("Lender), entered into an amendment ("Seventh Amendment") to its loan agreement ("BF Loan Agreement"), with an effective date of March 1, 2026 (the "Effective Date"). The Seventh Amendment renewed and extended the existing credit facility ("BF Credit Facility") for one additional year to March 1, 2027. In addition to the maturity date extension, other key terms of the Seventh Amendment include:
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The Partnership elected to voluntarily reduce its borrowing base to $10 million, as of the Effective Date.
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The incremental borrowing fee decreased from 50 basis points to 25 basis points.
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The Partnership paid a renewal fee of $25,000 to the Lender upon execution
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All associated loan costs with the Seventh Amendment will be expensed as of the Effective Date.
All other terms and conditions of the BF Loan Agreement and its subsequent amendments remain in effect. At the time of the filing of this Form 8-K, the Partnership had no outstanding borrowings on the BF Credit Facility.
The foregoing summary of the Seventh Amendment does not purport to be complete statements of the terms and conditions under the Seventh Amendment, of which are qualified in their entirety by the full terms and conditions of the Seventh Amendment, which is filed as exhibit 10.1.
Item 2.03 - Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information set forth under Item 1.01 of this report is hereby incorporated by reference into this Item 2.03.
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