PRIMEENERGY RESOURCES CORP 8-K

What Happened
PrimeEnergy Resources Corporation announced a Fifth Amendment to its Fourth Amended and Restated Credit Agreement with Citibank, N.A. as administrative agent, effective February 24, 2026. The amendment reconfirms the company’s senior secured revolving borrowing base at $115.0 million and adjusts several terms of the credit facility.

Key Details

• Effective date: February 24, 2026; amendment filed as Exhibit 10.1 to the 8-K.
• Borrowing base reaffirmed at $115.0 million; as of Dec. 31, 2025 and Feb. 27, 2026, there were no borrowings and the full $115.0M was available.
• Interest margin reductions of 50 basis points at each utilization tier: SOFR loan margin now 2.75%–3.75% (was 3.25%–4.25%); alternate base rate margin now 1.75%–2.75% (was 2.25%–3.25%).
• Commodity hedging covenant threshold raised from 25% to 30% borrowing base utilization for certain provisions.
• Includes customary post-closing obligations (additional mortgages and title information), confirmations of reps and warranties, and releases for the administrative agent and lenders. All other material terms (revolving commitments, collateral, financial covenants, maturity) remain unchanged.

Why It Matters
For investors, the amendment preserves the company’s $115.0M liquidity capacity while lowering potential borrowing costs if the facility is used (reduced margins). The higher hedging threshold delays some hedging requirements until the company draws more of the facility (30% vs. 25%), which could affect commodity risk management timing. The post-closing collateral requirements are customary but may require additional documentation or property liens to fully satisfy lenders.