Attached files
| file | filename |
|---|---|
| EX-10.1 - EX-10.1 - PETROQUEST ENERGY INC | d701268dex101.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): March 31, 2014
PETROQUEST ENERGY, INC.
(Exact name of registrant as specified in its charter)
| DELAWARE | 72-1440714 | |
| (State of Incorporation) |
(I.R.S. Employer Identification No.) | |
| 400 E. Kaliste Saloom Rd., Suite 6000 Lafayette, Louisiana |
70508 | |
| (Address of principal executive offices) | (Zip code) | |
Commission File Number: 001-32681
Registrant’s telephone number, including area code: (337) 232-7028
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
Credit Agreement Amendment
On March 31, 2014, PetroQuest Energy, Inc., a Delaware corporation, and PetroQuest Energy, L.L.C., a Louisiana limited liability company, entered into the Seventh Amendment to Credit Agreement (the “Seventh Amendment”), which amends the Credit Agreement dated as of October 2, 2008, as amended by that certain First Amendment to Credit Agreement dated as of March 24, 2009, that certain Second Amendment to Credit Agreement dated as of September 30, 2009, that certain Third Amendment to Credit Agreement dated as of August 5, 2010, that certain Fourth Amendment to Credit Agreement dated as of October 3, 2011, that certain Fifth Amendment to Credit Agreement dated as of March 29, 2013 and that certain Sixth Amendment to Credit Agreement dated as of June 19, 2013 (collectively, the “Credit Agreement”), with JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Capital One, N.A., Iberiabank, Bank of America, N.A. and The Bank of Nova Scotia (collectively, “Lenders”).
Pursuant to the Seventh Amendment, the Lenders have agreed to (1) modify the negative covenant contained in the Credit Agreement regarding Swap Agreements (as defined in the Credit Agreement) and certain other provisions related to such covenant, (2) reaffirm the Borrowing Base (as defined in the Credit Agreement) at $200 million and (3) add Bank of America, N.A. and The Bank of Nova Scotia as new Lenders under the Credit Agreement.
The foregoing description of the Seventh Amendment is not complete and is qualified by reference to the complete document, which is attached hereto as Exhibit 10.1 to this Form 8-K, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
| Exhibit Number |
Description of Exhibit | |
| 10.1 | Seventh Amendment to Credit Agreement dated as of March 31, 2014, among PetroQuest Energy, Inc., PetroQuest Energy, L.L.C., JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Capital One, N.A., Iberiabank, Bank of America, N.A. and The Bank of Nova Scotia. | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 31, 2014
| PETROQUEST ENERGY, INC. |
| /s/ J. Bond Clement |
| J. Bond Clement |
| Executive Vice President, Chief Financial Officer and Treasurer |