PrimeEnergy Resources Corporation announced the following unaudited results for the periods ended June 30, 2022 and 2021:
During July 2022 the Company amended its Credit agreement adding West Texas National Bank to our bank group which includes Citibank and Fifth Third Bank. This reserves based line of credit totals $300 million, with an increased borrowing base of $75 million. As of August 18, 2022, the Company has no outstanding borrowings under this line and has ample liquidity on its balance sheet to execute its current business plan. The Company has returned $4,515,000 to its shareholders during 2022 under its ongoing share repurchase program which represents approximately 3% of the outstanding shares.
