PrimeEnergy Reports Increased Production, Higher Revenue, and Strategic Share Repurchases in Q1 2025

Rhea-AI Summary

PrimeEnergy Resources Corporation (NASDAQ: PNRG) reported strong Q1 2025 results, with revenue increasing 16.4% year-over-year to $50.1 million. The company demonstrated robust production growth across all segments, with oil production up 6.0% to 457,000 barrels, natural gas production surging 106.6% to 2.39 Bcf, and NGL production rising 120.4% to 454,000 barrels.

Despite operational growth, net income declined 19.3% to $9.1 million, with diluted EPS falling 15.7% to $3.72. The company continued its shareholder-friendly approach, repurchasing 47,970 shares for $9.17 million in 2025, bringing total buyback returns to $112.6 million. Total assets increased to $339.3 million from $324.6 million at the end of 2024.

Positive

• Strong revenue growth of 16.4% YoY to $50.1 million
• Significant production increases across all segments (oil +6.0%, natural gas +106.6%, NGL +120.4%)
• Active share repurchase program with $9.17 million in buybacks during Q1
• Total assets increased to $339.3 million from $324.6 million in December 2024

Negative

• Net income declined 19.3% YoY to $9.1 million
• Diluted EPS decreased 15.7% to $3.72

News Market Reaction

+2.78%

1 alert

+2.78% News Effect

On the day this news was published, PNRG gained 2.78%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, May 19, 2025 (GLOBE NEWSWIRE) -- PrimeEnergy Resources Corporation (NASDAQ: PNRG) today announced first quarter 2025 results, with continued growth in oil and gas production supporting a 16.4% increase in revenue year-over-year. While earnings per share declined compared to Q1 2024, the Company highlighted significant shareholder returns and operational momentum.

Key Highlights – Q1 2025 vs Q1 2024
• Revenue: $50.1 million ↑ 16.4%

• Oil Production: 457,000 barrels ↑ 6.0%

• Natural Gas Production: 2.39 Bcf ↑ 106.6%

• NGL Production: 454,000 barrels ↑ 120.4%

• Net Income: $9.1 million ↓ 19.3%

• Diluted EPS: $3.72 ↓ 15.7%

• Share Buyback 2025: 47,970 shares repurchased at a cost of $9.17 million

Since initiating its share repurchase program, PrimeEnergy has returned a total of $112.6 million to shareholders through stock repurchases. As of May 19, 2025, the Company’s outstanding share count was 2,428,000, inclusive of vested options.

Total assets were $339.3 million at quarter-end, up from $324.6 million as of December 31, 2024.

“Our Q1 results reflect a continuation of strong operational momentum with significant growth in natural gas and NGL volumes,” said Beverly Cummings, CFO of PrimeEnergy. “We are also returning capital to shareholders through our buyback program, demonstrating confidence in our long-term value.”

PrimeEnergy Resources is an independent oil and natural gas company engaged in the acquisition, development, and production of hydrocarbons, primarily in Texas. The Company’s common stock trades on the NASDAQ under the symbol PNRG.

For investor inquiries, contact:

Connie Ng – (713) 735-0000 ext. 6416

Forward-Looking Statements
This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.

FAQ

What were PrimeEnergy's (PNRG) Q1 2025 revenue and earnings results?

PrimeEnergy reported Q1 2025 revenue of $50.1 million, up 16.4% YoY, while net income was $9.1 million (down 19.3%) and diluted EPS was $3.72 (down 15.7%).

How much did PrimeEnergy's (PNRG) production grow in Q1 2025?

In Q1 2025, oil production increased 6.0% to 457,000 barrels, natural gas production grew 106.6% to 2.39 Bcf, and NGL production rose 120.4% to 454,000 barrels.

How many shares did PrimeEnergy (PNRG) repurchase in 2025?

PrimeEnergy repurchased 47,970 shares at a cost of $9.17 million in 2025, contributing to a total of $112.6 million returned to shareholders through stock repurchases.

What is PrimeEnergy's (PNRG) current outstanding share count?

As of May 19, 2025, PrimeEnergy's outstanding share count was 2,428,000, including vested options.

How did PrimeEnergy's (PNRG) total assets change in Q1 2025?

PrimeEnergy's total assets increased to $339.3 million at the end of Q1 2025, up from $324.6 million as of December 31, 2024.