Peak 10 Energy Announces the Closing of New Secured Credit Facility

Posted on May 5th, 2025 | Filed under Press Releases

HOUSTON, May 5, 2025 /PRNewswire/ — Peak 10 Energy (“Peak 10”) announced today the closing of a new secured credit facility through its wholly owned subsidiary, Peak 10 GRC Holdings, LP. The collateral supporting the facility consists of both operated and non-operated working interest properties in the Northern Midland Basin, Southern Delaware Basin, and the Eastern Shelf of the Permian Basin. West Texas National Bank (“WTNB”) is serving as the Sole Lead Arranger, Bookrunner, and Administrative Agent for the facility.

“This credit facility is a direct result of the quality and diversity of our asset base, as well as our organization’s ability to execute our strategy in a constantly shifting energy market. WTNB has significant industry experience in Peak 10’s areas of operation, making them an ideal partner for our growth ambitions. We would like to thank WTNB for their support,” said Peak 10 Chief Executive Officer Kyle McQuire.

Founded in 2023, Peak 10 is a pure-play Permian Basin company and has successfully closed nearly a dozen asset and capital market transactions since its inception.

“There is a substantial organic development and consolidation opportunity ahead of us across all three of our operating areas. This facility both optimizes our capital structure and provides significant flexibility to execute our growth plan. We are grateful to our new partner, WTNB, for their confidence in our assets, team, and strategy. We look forward to a long-term partnership,” added Peak 10 Chief Financial Officer Brandon Powell.

Peak 10 is a portfolio company of Legacy Star Capital Partners.

Baker Botts LLP served as legal advisor to Peak 10.

Dorsey & Whitney LLP served as legal advisor to WTNB.

About Peak 10 Energy

Based in Houston, Peak 10 specializes in the acquisition and development of oil and gas assets within the Permian Basin. Additional information can be found at www.peak10energy.com.

About Legacy Star Capital Partners

Legacy Star Capital Partners is a generalist private equity firm focused on private debt and equity investment opportunities in the energy, real estate, infrastructure, manufacturing, specialty finance, and technology sectors.

About West Texas National Bank

Privately owned, West Texas National Bank is a community bank predominately serving communities in West Texas with branch locations in Alpine, Crane, Denver City, Kermit, Midland, Odessa, Pecos, Plainview, Seminole, Terlingua, and Lubbock, and loan production offices in Dallas, Lockney and Houston. WTNB offers an extensive line of products and services ranging from commercial and personal financial solutions to treasury management and mortgage. For more information, please visit WTNB.com. Member FDIC. Equal Housing Lender. West Texas National Bank, NMLS 410435

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include, without limitation, the ability to achieve the anticipated benefits of the Peak 10 platform, or the types, forms and performance of investment solutions and products provided by the Peak 10 platform.

Legacy Star cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. Legacy Star is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and Legacy Star does not intend to do so.

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