Phoenix Energy One, LLC 8-K

What Happened

• Phoenix Energy One, LLC filed an 8-K on June 2, 2026 disclosing that on June 1, 2026 it entered into a Limited Waiver and Amendment No. 9 to its Amended and Restated Senior Secured Credit Agreement. The original Credit Agreement was entered August 12, 2024. The amendment involves Phoenix Operating LLC (borrower), the lenders party to the Credit Agreement, and Fortress Credit Corp. as administrative agent.
• Amendment No. 9 specifically permits the Company to issue certain junior lien notes, subject to the conditions and limitations set forth in the Credit Agreement. A copy of the amendment is filed as Exhibit 10.1 to the 8-K.

Key Details

• Amendment No. 9 effective date: June 1, 2026; Form 8-K filed June 2, 2026.
• Original Credit Agreement date: August 12, 2024 (Amended and Restated Senior Secured Credit Agreement).
• Parties: Phoenix Energy One, Phoenix Operating LLC (borrower), guarantors, the lenders party thereto, and Fortress Credit Corp. as administrative agent.
• Primary change: authorization to issue junior lien notes, subject to specified conditions and limitations in the Credit Agreement.

Why It Matters

• The amendment formally allows the company to issue junior lien notes, which are structurally subordinate to the existing senior secured indebtedness under the Credit Agreement. This affects the company’s capital structure and the priority of claims among creditors.
• Investors should review Amendment No. 9 (Exhibit 10.1) and the Credit Agreement for the specific conditions, limits, and any potential effects on leverage, covenant compliance, or future financing options.