EXHIBIT 10.1
EXECUTION VERSION

SIXTH AMENDMENT TO THIRD AMENDED AND RESTATED
CREDIT AGREEMENT

SIXTH AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”) is entered into as of October 6, 2017, by and among PDC ENERGY,
INC., a Delaware corporation formerly known as Petroleum Development Corporation
(the “Borrower”), CERTAIN SUBSIDIARIES OF THE BORROWER, as Guarantors (the
“Guarantors”), the LENDERS party hereto and JPMORGAN CHASE BANK, N.A., as
Administrative Agent (the “Administrative Agent”). Unless the context otherwise
requires or unless otherwise expressly defined herein, capitalized terms used
but not defined in this Amendment have the meanings assigned to such terms in
the Credit Agreement (as defined below).
WITNESSETH:
WHEREAS, the Borrower, the Guarantors, the Administrative Agent and the Lenders
have entered into that certain Third Amended and Restated Credit Agreement dated
as of May 21, 2013 (as the same has been and may hereafter be amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”);
and
WHEREAS, the Borrower and the Guarantors have requested that the Administrative
Agent and the Lenders amend the Credit Agreement in certain respects and the
Administrative Agent and the Majority Lenders have agreed to do so on the terms
and conditions hereinafter set forth.
NOW, THEREFORE, for and in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged and confessed, the Borrower, the
Guarantors, the Administrative Agent and the Lenders party hereto hereby agree
as follows:
SECTION 1.    Amendment to Credit Agreement. Section 3.03(a) of the Credit
Agreement is hereby amended to delete the last sentence which reads: “In no
event shall the Proposed Borrowing Base exceed the Maximum Facility Amount.”

SECTION 2.    Borrowing Base; Aggregate Commitment.

2.1    On the Sixth Amendment Effective Date (defined below), the Borrowing Base
shall be increased to $1,100,000,000, which Borrowing Base shall remain in
effect until the next Redetermination Date or the next adjustment to the
Borrowing Base under the Credit Agreement, whichever occurs first. This Section
2 constitutes (a) the New Borrowing Base Notice in accordance with Section 3.04
of the Credit Agreement and (b) an acknowledgment by each Lender that it has
approved the redetermined Borrowing Base consistent with its usual and customary
oil and gas lending criteria as they currently exist. The redetermination of the
Borrowing Base set forth herein constitutes the November 1, 2017 Scheduled
Redetermination.

2.2    The parties hereto acknowledge that as of the Sixth Amendment Effective
Date, the Aggregate Commitment is and shall remain $700,000,000 until the same
is otherwise adjusted pursuant to the Credit Agreement.

SECTION 3.    Conditions. The amendment to the Credit Agreement contained in
Section 1 of this Amendment and the Redetermination of the Borrowing Base and
acknowledgment of the Aggregate Commitment contained in Section 2 of this
Amendment shall be effective upon the satisfaction or waiver in writing of each
of the conditions set forth in this Section 3 (the date on which each such
condition has been satisfied or waived in writing is referred to herein as the
“Sixth Amendment Effective Date”).

3.1    Execution and Delivery. Each Credit Party, each of the Lenders and the
Administrative Agent shall have executed and delivered this Amendment.

3.2    No Default. No Default or Event of Default shall have occurred and be
continuing or shall result from the effectiveness of this Amendment.

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SECTION 4.    Miscellaneous.

4.1    Reaffirmation of Loan Documents and Liens. Any and all of the terms and
provisions of the Credit Agreement and the other Loan Documents shall, except as
amended and modified hereby, remain in full force and effect and are hereby in
all respects ratified and confirmed by each Credit Party. Each Credit Party
hereby agrees that the amendments and modifications herein contained shall in no
manner affect or impair the liabilities, duties and obligations of any Credit
Party under the Credit Agreement and the other Loan Documents or the Liens
securing the payment and performance thereof.

4.2    Counterparts. This Amendment may be executed in one or more counterparts
and by different parties hereto in separate counterparts each of which when so
executed and delivered shall be deemed an original, but all such counterparts
together shall constitute but one and the same instrument; signature pages may
be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same
document. Delivery of photocopies of the signature pages to this Amendment by
facsimile or electronic mail shall be effective as delivery of manually executed
counterparts of this Amendment.

4.3    Complete Agreement. THIS AMENDMENT, THE CREDIT AGREEMENT, AND THE OTHER
LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

4.4    Headings. The headings, captions and arrangements used in this Amendment
are, unless specified otherwise, for convenience only and shall not be deemed to
limit, amplify or modify the terms of this Amendment, nor affect the meaning
thereof.
4.5    Governing Law. This Amendment shall be construed in accordance with and
governed by the law of the State of New York without regard to conflicts of law.

[Remainder of page intentionally blank. Signature pages follow.]

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed
as of the date first above written.
 

PDC ENERGY, INC., as Borrower
 
 
 
 
 
By:/s/ David W. Honeyfield
 
Name:David W. Honeyfield
 
Title:Senior Vice President and Chief Financial Officer
 
 
 
 

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RILEY NATURAL GAS COMPANY, as a Guarantor
 
 
 
 
 
By:/s/ Darwin L. Stump
 
Name:Darwin L. Stump
 
Title:Treasurer
 
 
 
 
 

PDC PERMIAN, INC., as a Guarantor
 
 
 
 
 
By:/s/ Nicole L. Martinet
 
Name:Nicole L. Martinet
 
Title:Vice President, Associate General Counsel and Secretary

 
JPMORGAN CHASE BANK, N.A., as Administrative Agent, Issuing Bank, Swingline
Lender and as a Lender
 
 
 
 
 
By:/s/ Jo Linda Papadakis
 
Name:Jo Linda Papadakis
 
Title:Authorized Officer
 
 

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WELLS FARGO BANK, N.A., as a Lender
 
 
 
 
 
By:/s/ Dalton Harris
 
Name:Dalton Harris
 
Title:Vice President
 
 

 
BANK OF AMERICA, N.A., as a Lender
 
 
 
 
 
By:/s/ Ronald E. McKaig
 
Name:Ronald E. McKaig
 
Title:Managing Director
 
 

 
BANK OF MONTREAL, as a Lender
 
 
 
 
 
By:/s/ Gumaro Tijerina
 
Name:Gumaro Tijerina
 
Title:Managing Director
 
 

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TORONTO DOMINION (TEXAS), LLC, as a Lender
 
 
 
 
 
By:/s/ Savo Bozic
 
Name:Savo Bozic
 
Title:Authorized Signatory
 
 

 
COMPASS BANK, as a Lender
 
 
 
 
 
By:/s/ Gabriela Azcarate
 
Name:Gabriela Azcarate
 
Title:Vice President
 
 

 
U.S. BANK NATIONAL ASSOCIATION, as a Lender
 
 
 
 
 
By:/s/ Ben Leonard
 
Name:Ben Leonard
 
Title:Vice President
 
 

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CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender
 
 
 
 
 
By:/s/ Christopher Kuna
 
Name:Christopher Kuna
 
Title:Vice President
 
 

 
THE BANK OF NOVA SCOTIA, as a Lender
 
 
 
 
 
By:/s/ Alan Dawson
 
Name:Alan Dawson
 
Title:Director
 
 

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Lender
 
 
 
 
 
By:/s/ Page Dillehunt
 
Name:Page Dillehunt
 
Title:Managing Director
 
 
 
 
 
 
 
By:/s/ Michael Willis
 
Name:Michael Willis
 
Title:Managing Director

 
KEYBANK NATIONAL ASSOCIATION, as a Lender
 
 
 
 
 
By:/s/ Paul J. Pace
 
Name:Paul J. Pace
 
Title:Senior Vice President
 
 

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NATIXIS, NEW YORK BRANCH, as a Lender
 
 
 
 
 
By:/s/ Timothy Polvado
 
Name:Timothy Polvado
 
Title:Senior Managing Director
 
 
 
 
 
 
 
By:/s/ Vikram Nath
 
Name:Vikram Nath
 
Title:Director

 
TEXAS CAPITAL BANK, N.A., as a Lender
 
 
 
 
 
By:/s/ Gabriela A. Ramirez
 
Name:Gabriela A. Ramirez
 
Title:Vice President
 
 

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BOKF, NA D/B/A BANK OF OKLAHOMA, as a Lender
 
 
 
 
 
By:/s/ Benjamin H. Adler
 
Name:Benjamin H. Adler
 
Title:Vice President
 
 

 
COMERICA BANK, as a Lender
 
 
 
 
 
By:/s/ Garrett R. Merrell
 
Name:Garrett R. Merrell
 
Title:Assistant Vice President
 
 

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CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a Lender
 
 
 
 
 
By:/s/ William M. Reid
 
Name:William M. Reid
 
Title:Authorized Signatory
 
 
 
 
 
 
 
By:/s/ Trudy Nelson
 
Name:Trudy Nelson
 
Title:Authorized Signatory

 
ABN AMRO CAPITAL USA LLC, as a Lender
 
 
 
 
 
By:/s/ Kelly Hall
 
Name:Kelly Hall
 
Title:Director
 
 
 
 
 
 
 
By:/s/ Darrell Holley
 
Name:Darrell Holley
 
Title:Managing Director

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FIFTH THIRD BANK, as a Lender
 
 
 
 
 
By:/s/ Jonathan H. Lee
 
Name:Jonathan H. Lee
 
Title:Director
 
 

 
GOLDMAN SACHS BANK USA, as a Lender
 
 
 
 
 
By:/s/ Chris Lam
 
Name:Chris Lam
 
Title:Authorized Signatory
 
 

 
PNC BANK, NATIONAL ASSOCIATION, as a Lender
 
 
 
 
 
By:/s/ Sandra Aultman
 
Name:Sandra Aultman
 
Title:Managing Director
 
 

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SCOTIABANC INC., as a Lender
 
 
 
 
 
By:/s/ J.F. Todd
 
Name:J.F. Todd
 
Title:Managing Director