UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
FORM 8-K
CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 29, 2024
PrimeEnergy Resources Corporation
(Exact name of registrant as specified in its charter)
Delaware
(State or Other Jurisdiction of Incorporation)
| 0-7406 | 84-0637348 |
| (Commission File Number) | (IRS Employer Identification No.) |
9821 Katy Freeway, Houston, Texas 77024 (Address of principal executive offices)
Registrant’s telephone number, including area code 713-735-0000
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common Stock, $0.10 par value | | PNRG | | NASDAQ |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
PRIMEENERGY RESOURCES CORPORATION
Item 1.01 Entry into a Material Definitive Agreement
On July 29, 2024, PrimeEnergy Resources Corporation, (The Company), amended its loan agreement with Citibank, N.A., increasing the borrowing base from $85,000,000 to $115,000,000. As of today, the Company currently has $8,000,000 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 loan amendment also includes the addition of U.S. Bank National Association as a lender and the cover page of the Credit Agreement is hereby amended by amending the phrase “Citibank, N.A. Sole Lead Arranger and Sole Book Runner” to read as follows:
CITIBANK
Joint Lead Arranger and Sole Book Runner
FIFTH THIRD BANK, NATIONAL ASSOCIATION,
Joint Lead Arranger and Syndication Agent
Item 9.01 Exhibits and Financial Statements Schedule
| 10.22.6.3 | THIRD AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, dated as of July 29, 2024, among PRIMEENERGY RESOURCES CORPORATION, a Delaware corporation (the “Borrower”), CITIBANK, N.A., as administrative agent (in such capacity, the “Administrative Agent”), each Guarantor party hereto, the Existing Lenders and the New Lender, filed herewith.. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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: August 1, 2024 | PrimeEnergy Resources Corporation | |
| By: | /s/ Beverly A. Cummings | |
| Name: Beverly A. Cummings Executive Vice President | |
