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PQ > SEC Filings for PQ > Form 8-K on 31-Mar-2014All Recent SEC Filings

Show all filings for PETROQUEST ENERGY INC

Form 8-K for PETROQUEST ENERGY INC


31-Mar-2014

Entry into a Material Definitive Agreement, Financial Statements and Exhibi


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.


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