News Releases

RSP Permian, Inc. Announces Amended and Restated Credit Agreement with Increased Borrowing Base and Commitment Size

DALLAS, Dec. 20, 2016 /PRNewswire/ -- RSP Permian, Inc. ("RSP" or the "Company") (NYSE: RSPP) today announced it has entered into an amended and restated credit agreement with respect to the senior secured revolving credit facility (the "Facility") of RSP Permian, L.L.C. ("RSP LLC").  The amended and restated credit agreement extends the maturity date of the Facility until December 19, 2021, increases the borrowing base under the Facility to $950 million and increases the maximum commitments of the lenders from $1.0 billion to $2.5 billion.  The $950 million borrowing base only reflects the reserve growth from the Company's Midland Basin assets and the recently closed first-half of the Silver Hill acquisition.  In addition, the amended and restated credit agreement provides RSP LLC the ability, subject to certain conditions, to elect the amount of the aggregate commitments under the Facility up to the amount of the borrowing base then in effect.  RSP LLC has initially elected an aggregate commitment amount of $900 million. The bank syndicate, co-arranged by JPMorgan Chase Bank, N.A. and Comerica Bank, was expanded from 11 participating banks to 21 participating banks.

Changes in key financial covenants include:

  • Maximum of 3.0 times total secured debt-to-trailing 12 months EBITDAX ratio was removed, and
  • Maximum of 4.5 times total debt-to-trailing 12 months EBITDAX ratio was reduced to 4.25 times total debt-to-trailing 12 months EBITDAX.

Steve Gray, Chief Executive Officer of RSP, commented, "We are pleased to announce the successful closing of our amended and restated credit facility, which resulted in a substantial increase to our borrowing base.  We appreciate the strong support from both our longstanding and new commercial banking relationships.  This expanded facility will increase our financial flexibility and support our plan to accelerate our pace of development in 2017." 

About RSP Permian, Inc.
RSP is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The vast majority of our acreage is located on large, contiguous acreage blocks in the core of the Midland and Delaware Basins, sub-basins of the Permian Basin.  The Company's common stock is traded on the NYSE under the ticker symbol "RSPP."  For more information, visit

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that management anticipates.



SOURCE RSP Permian, Inc.

For further information: Investor Contact: Scott McNeill, Chief Financial Officer, 214-252-2700, Alyssa Stephens, Director, Investor Relations, 214-252-2764, Investor Relations:, 214-252-2790
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