PrimeEnergy Enters Material Definitive Agreement on Feb 9

TL;DR

**PrimeEnergy just signed a big deal on Feb 9th, details to follow, could be a game-changer!**

AI Summary

PrimeEnergy Resources Corporation filed an 8-K on February 14, 2024, reporting an "Entry into a Material Definitive Agreement" that occurred on February 9, 2024. The filing also indicated the inclusion of financial statements and exhibits related to this agreement. The company, incorporated in Delaware and based in Houston, Texas, operates in the crude petroleum and natural gas industry.

Why It Matters

A material definitive agreement can significantly impact a company's operations, financial position, or strategic direction, potentially leading to future growth, restructuring, or changes in asset ownership. Investors will be keen to learn the specifics of this agreement to assess its implications.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, but without specific details, the nature and potential impact (positive or negative) remain unknown, creating uncertainty.

Key Players & Entities

• PrimeEnergy Resources Corporation (company) — registrant
• Delaware (location) — state of incorporation
• Houston (location) — principal executive offices city
• Texas (location) — principal executive offices state
• 0000056868 (other) — Central Index Key (CIK)
• 000-07406 (other) — Commission File Number
• February 9, 2024 (date) — date of earliest event reported
• February 14, 2024 (date) — filed as of date

FAQ

Key Financial Figures

• $0.10 — on which registered Common Stock , $0.10 par value PNRG NASDAQ Indicate by
• $65,000,000 — .A., increasing the borrowing base from $65,000,000 to $85,000,000, as well as adding Indep
• $85,000,000 — the borrowing base from $65,000,000 to $85,000,000, as well as adding Independent Bank as

Filing Documents

• pnrg20240213_8k.htm (8-K) — 21KB
• ex_625890.htm (EX-10.2262) — 106KB
• 0001437749-24-003967.txt ( ) — 268KB
• pnrg-20240209.xsd (EX-101.SCH) — 3KB
• pnrg-20240209_def.xml (EX-101.DEF) — 11KB
• pnrg-20240209_lab.xml (EX-101.LAB) — 15KB
• pnrg-20240209_pre.xml (EX-101.PRE) — 11KB
• pnrg20240213_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement 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, as well as adding Independent Bank as a new lender. As of today, the Company has no outstanding borrowings under the facility, however, the Company does plan to draw down part of the loan and use its cash flow to fund its drilling budget for 2024. The above description of the loan agreement amendment is qualified in its entirety by reference to the complete text of such amendment filed as Exhibit 10.1 hereto. This report contains forward-looking statements that involve risks and uncertainties, and actual results may vary. See the Company's most recent Quarterly Report on Form 10-Q for a description of various factors that could materially affect the ability to achieve the anticipated results described in the forward-looking statements.

01 Exhibits and Financial Statement Schedules

Item 9.01 Exhibits and Financial Statement Schedules. The following document is filed as part of this Report Exhibit No. Description 10.22.6.2 Second Amendment to Fourth Amended and Restated Credit Agreement, dated as of February 9, 2024, among PrimeEnergy Resources Corporation, Citibank, N.A., as administrative agent, the guarantors and the lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this current report to be signed on its behalf by the undersigned, thereto duly authorized. Dated: February 13, 2024 PrimeEnergy Resources Corporation By: /s/ Beverly A. Cummings Name: Beverly A. Cummings Executive Vice President

View Full Filing

View this 8-K filing on SEC EDGAR