Hallador Energy Closes Up to $675 Million in Debt Financing for Turtle Creek Gas Project

09:06 AM EDT, 09/17/2026 (MT Newswires) -- Hallador Energy (HNRG) said Thursday that it closed up to $675 million in debt financing to fund the majority of its Turtle Creek Gas project cost. The financing includes a $600 million senior secured term loan facility and a super-priority revolving credit facility of up to $75 million, with a three-year term and a two-year extension option, the company said. Hallador said the financing will fund upcoming payments under its turbine asset purchase deal, construction of the proposed 460-megawatt Turtle Creek Gas project, and repay existing debt of about $120 million. With the financing, in addition to operating cash flow and its contracted forward sales position, Hallador said it has a credible pathway to fully fund the project with little to no equity dilution. Total project cost is estimated at less than $800 million, the company said. Shares of the company were up 3.7% in Thursday's premarket activity.