Welcome to our dedicated page for Primeenergy Resources news (Ticker: PNRG), a resource for investors and traders seeking the latest updates and insights on Primeenergy Resources stock.
PrimeEnergy Resources Corp (PNRG) is an independent energy company focused on oil and natural gas exploration, production, and well servicing across Texas and Oklahoma. This page provides investors and industry professionals with timely updates on corporate developments, operational milestones, and strategic initiatives.
Access the latest press releases, earnings reports, and regulatory filings in one centralized location. Track key activities including drilling operations, asset acquisitions, and joint venture partnerships that shape the company’s growth in competitive energy markets. Our curated news collection ensures you stay informed about operational efficiencies, production updates, and management strategies directly impacting PNRG’s performance.
Content spans quarterly financial results, technical drilling advancements, and updates on acquired properties. Bookmark this page for streamlined access to verified information about PrimeEnergy’s onshore operations and market positioning. Check back regularly for new developments affecting this energy sector operator.
PrimeEnergy Resources (PNRG) reported substantial growth in its yearend 2024 financial results. Total oil and gas revenue surged 107.01% to $223,042,000, driven by significant production increases across all segments. Oil production rose 123.43% to 2,556,000 barrels, while natural gas sales increased 88.18% to 7,766,000 Mcf.
The company's net income doubled to $55,404,000, with basic earnings per share reaching $31.43, up from $15.19 in 2023. Total revenues climbed to $237,796,000, marking a $104,986,000 increase from the previous year. As of December 31, 2024, proved reserves stood at 10,609 barrels of oil, 8,267 barrels of natural gas liquids, and 45,815 MMcf of natural gas.
PrimeEnergy Resources (NASDAQ: PNRG) reported strong financial results for Q3 2024, with net income of $22.1 million ($8.80 per diluted share) for the quarter and $53.1 million ($20.93 per diluted share) for the nine months ended September 30, 2024. The company demonstrated significant production growth across all segments, with oil production up 134.37%, natural gas up 98.41%, and natural gas liquids up 144.72% compared to Q3 2023. Revenues increased to $69.5 million in Q3 2024 from $37.6 million in Q3 2023. Total assets grew to $345.6 million as of September 30, 2024, compared to $288.6 million at the end of 2023.
PrimeEnergy Resources (NASDAQ: PNRG) reported strong financial results for Q2 2024. The company announced net income of $19.73 million for the quarter and $31.05 million for the first half of 2024. Earnings per share reached $7.77 and $12.16 on a fully diluted basis for the three and six months ended June 30, 2024, respectively.
PNRG experienced significant growth in production volumes across all categories. Oil production increased by 133.99%, natural gas by 95.49%, and natural gas liquids by 88.11% compared to Q2 2023. The company added production from 21 new wells and has 19 additional wells in various stages of development. PNRG's revolving line of credit was increased from $85 million to $115 million, with $105 million available as of August 14, 2024.
PrimeEnergy Resources Corporation (NASDAQ: PNRG) reported significant financial growth for the year ended December 31, 2022. Revenues increased to $125.1 million, up from $72.5 million in 2021, marking a 73.42% rise. Net income surged to $48.7 million compared to $2.1 million in the prior year. Basic earnings per share (EPS) rose to $24.91 against $1.05, while diluted EPS reached $17.95, compared to $0.76 in 2021. Oil production volumes increased by 27.24% to 939,000 barrels, and the average price received for oil rose to $96.70 per barrel from $68.39. Proved reserves as of December 31, 2022, were 16.7 million barrels of oil equivalent. The company maintains a $60 million credit facility, which remains unused as of April 14, 2023.
FAQ
What is the current stock price of Primeenergy Resources (PNRG)?
What is the market cap of Primeenergy Resources (PNRG)?
