PrimeEnergy Secures $115M Borrowing Base, Slashes Interest Margins by 50 bps
PrimeEnergy’s borrowing base was reaffirmed at $115.0 million with zero outstanding borrowings, leaving full availability under its revolving credit facility. The amendment cuts interest margins by 50 basis points, setting SOFR loan margins at 2.75%–3.75% and alternate base rate margins at 1.75%–2.75%.
1. Borrowing Base Reaffirmation
PrimeEnergy’s borrowing base was reaffirmed at $115.0 million following its semi-annual redetermination, with no debt outstanding under the revolving credit facility as of February 27, 2026.
2. Interest Margin Reduction
The Fifth Amendment reduces interest rate margins by 50 basis points across all utilization levels, setting the SOFR loan margin at 2.75%–3.75% and the alternate base rate margin at 1.75%–2.75%.
3. Facility Capacity and Maturity
The company retains full access to the $115.0 million commitment within a $300 million senior secured revolving credit facility that matures on December 20, 2028.
4. Financial Flexibility
With zero borrowings and improved pricing, PrimeEnergy is positioned to fund its capital program while maintaining strong financial discipline and operational flexibility.