PrimeEnergy Resources Announces Credit Facility Update

Company reaffirms $115M borrowing base and reduces pricing under credit facility

Published on Feb. 27, 2026

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PrimeEnergy Resources Corporation (NASDAQ: PNRG) announced that it has entered into a Fifth Amendment to its Fourth Amended and Restated Credit Agreement with its bank group, led by Citibank, N.A. The company's borrowing base was reaffirmed at $115 million, and the applicable interest rate margins were reduced by 50 basis points across all utilization levels.

Why it matters

The reaffirmation of PrimeEnergy's borrowing base and reduced pricing under the credit facility reflect the strength of the company's balance sheet and asset base, providing financial flexibility to execute its capital program while maintaining discipline.

The details

Under the amendment, PrimeEnergy's SOFR loan margin now ranges from 2.75% to 3.75%, and the alternate base rate loan margin now ranges from 1.75% to 2.75%, based on borrowing base utilization. The company currently has no borrowings outstanding, leaving the full $115 million available. The amendment also includes technical and conforming changes to the company's commodity hedging covenant, while all other material terms of the credit facility remain unchanged.

  • The credit facility amendment was announced on February 27, 2026.
  • PrimeEnergy had no borrowings outstanding as of December 31, 2025 and February 27, 2026.

The players

PrimeEnergy Resources Corporation

An independent oil and gas company engaged in the acquisition, development, and production of oil and natural gas properties, primarily in Texas.

Citibank, N.A.

The administrative agent for PrimeEnergy's $300 million senior secured revolving credit facility, which matures on December 20, 2028.

Beverly A. Cummings

Chief Financial Officer of PrimeEnergy Resources Corporation.

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What they’re saying

“We appreciate the continued support of our banking group. The reaffirmed borrowing base and reduced pricing reflect the strength of our balance sheet and asset base. With no borrowings outstanding and full availability under our revolving credit facility, PrimeEnergy remains well positioned to execute our capital program while maintaining financial discipline.”

— Beverly A. Cummings, Chief Financial Officer (PrimeEnergy Resources Corporation)

The takeaway

PrimeEnergy's credit facility update demonstrates the company's financial stability and ability to access capital to support its operations, even in a challenging market environment.