PrimeEnergy increases borrowing base to $115M, adds U.S. Bank as lender

PRIMEENERGY RESOURCES CORP

Borrowing base raised from $85M to $115M under existing Citibank credit facility.
U.S. Bank National Association joined as a new lender, expanding bank group to five institutions.
As of July 29, 2024, $8M outstanding on the facility; proceeds expected to fund 2024 drilling budget.
Restricted payment covenants updated: permitted dividends up to 2.0x leverage ratio (from 1.25x).

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