PrimeEnergy boosts borrowing base to $85M, adds Independent Bank as lender

PRIMEENERGY RESOURCES CORP

Borrowing base increased from $65M to $85M under amended credit agreement.
Independent Bank added as a new lender; total lender commitments raised to $300M.
No outstanding borrowings currently; company plans to draw for 2024 drilling budget.
Amendment effective Feb 9, 2024; lenders include Citibank, Fifth Third, West Texas, Independent.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PRIMEENERGY RESOURCES CORP amended loan agreement with Citibank, N.A. (effective 2024-02-09).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A.
Effective: 2024-02-09

Exact text from the filing

On February 9, 2024, PrimeEnergy Resources Corporation, (The Company), amended its loan agreement with Citibank, N.A., increasing the borrowing base from $65,000,000 to $85,000,000

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Source: SEC EDGAR

accession 0001437749-24-003967

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