PrimeEnergy Resources Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing oil and natural gas properties in the United States. It also acquires producing oil and gas properties through joint ventures with industry partners; and provides contract services to third parties, including well-servicing support operations, site-preparation, and construction services for oil and gas drilling and reworking operations. The company operates approximately 760 active wells and owns non-operating interests in approximately 800 additional wells primarily in Oklahoma, Texas, and West Virginia. The company was formerly known as PrimeEnergy Corporation and changed its name to PrimeEnergy Resources Corporation in December 2018. The company was incorporated in 1973 and is based in Houston, Texas.
IPO Year:
Exchange: NASDAQ
Website: primeenergy.com
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10-Q - PRIMEENERGY RESOURCES CORP (0000056868) (Filer)
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HOUSTON, Aug. 14, 2024 (GLOBE NEWSWIRE) -- PrimeEnergy Resources Corporation (NASDAQ:PNRG) announced today net income of $19.73 million for the quarter, and $31.05 million for the six months, ended June 30, 2024. This represents $7.77 and $12.16 per share, on a fully diluted basis, for the three and six months ended June 30, 2024. As of August 14, 2024, the total outstanding shares including outstanding options are 2,519,271. "During the second quarter of 2024, the Company added the first production from 21 new wells and currently has 19 additional wells in various stages of drilling and completion activities with DE IV Operating LLC., Apache Corporation and Pioneer Natural Resources. The
PrimeEnergy Resources Corporation (NASDAQ:PNRG) announces third quarter unaudited results for the periods ended September 30, 2023 and 2022. Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the three and nine months ended September 30, 2023, and 2022 were as follows: Three Months Ended September 30, 2023 2022 Increase / (Decrease) Barrels of Oil Produced 323,188 244,500 78,688 Average Price Received $ 81.69 $ 95.72 $ (14.03 ) Oil Revenue (In 000's) $
PrimeEnergy Resources Corporation (NASDAQ:PNRG) announced today net income of $10.0 million for the quarter, and $11.5 million for the six months, ended June 30, 2023. This represents $3.82 and $4.37 per share, on a fully diluted basis, for the three and six months ended June 30, 2023. As of August 14, 2023 the total outstanding shares including outstanding options are 2,602,800. "During the second quarter of 2023, the Company added the first production from 18 wells completed in 2023 and currently has 7 additional wells in various stages of completion activities with ConocoPhillips Corporation and Apache Corporation. The development plan includes the drilling of additional wells during t
PrimeEnergy Resources Corporation (NASDAQ:PNRG) ("PrimeEnergy" or "Company") announced today that the Company was added to the broad-market Russell 2000 Index at the conclusion of the 2023 Russell Indexes annual reconstitution, effective at the US market opening on June 26, 2023. "We are pleased to have earned our inclusion in the Russell 2000® Index, one of the most widely cited performance benchmarks for U.S. small-cap companies," said Beverly Cummings, Vice President and CFO of PrimeEnergy. "This is an important event for PrimeEnergy as we continue to execute the development of our acreage position in the Permian Basin and Oklahoma." During the second quarter of 2023, the Company added
At the Annual Meeting of the Board of Directors which was held on June 7, 2023, the five (5) Directors, as nominated in the Proxy Statement dated April 28, 2023, were elected. The five directors, consisting of Charles E. Drimal, Jr., Beverly A. Cummings, H. Gifford Fong, Thomas Gimbel, and Clint Hurt will hold office until the next annual meeting of stockholders, and until their successors are elected. The Directors also approved the purchase of up to an additional 300,000 shares of the Company's common stock, in open market or private transactions, from time to time, at such price and at the discretion of the management of the Company. PrimeEnergy is an independent oil and natural gas
PrimeEnergy Resources Corporation (NASDAQ:PNRG) announced today net income of $1.4 million, on a fully diluted basis, this represents $0.53 per share for the quarter ended March 31, 2023. As of March 31, 2023, the borrowing base was $60 million and as of May 19, 2023, the Company has no outstanding borrowings under the Credit Facility. As of March 31, 2023, the Company was participating in the drilling of 15 two-mile-long horizontal wells in Reagan County, Texas with 49.7% interest in five wells operated by Double Eagle and 25% interest in ten wells operated by Hibernia Energy. We are pleased to report that by April 30, 2023, all ten wells that PrimeEnergy drilled with Hibernia are now pr
PrimeEnergy Resources Corporation (NASDAQ:PNRG): Year Ended December 31, 2022 2021 Increase / (Decrease) Revenues (In 000's) $ 125,087 $ 72,458 $ 52,629 Net Income (In 000's) $ 48,664 $ 2,098 $ 46,566 Earnings per Common Share: Basic $ 24.91 $ 1.05 $ 23.86 Diluted $ 17.95 $ 0.76 $ 17.19 Shares Used in Calculation of: Basic EPS 1,953,916 1,992,077 Di
PrimeEnergy Resources Corporation (NASDAQ:PNRG) announced today the following unaudited results for the periods ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenues $ 39,651,000 $ 17,311,000 $ 101,562,000 $ 42,292,000 Net Income $ 13,154,000 $ (1,163,000 ) $ 35,279,000 $ (5,021,000 ) Earnings per Common Share: Basic $ 6.79 $ (0.58 ) $ 17.95 $ (2.52 ) Earnings per Common Share:
PrimeEnergy Resources Corporation (NASDAQ:PNRG) announced today the following unaudited results for the periods ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenues $ 35.7 $ 13.7 $ 61.9 $ 28.6 Net Income (loss) $ 11.0 $ (2.4 ) $ 22.1 $ (3.9 ) Earnings per Common Share: Basic $ 5.57 $ (1.20 ) $ 11.18 $ (1.93 ) Diluted $ 4.02 $ (1.20 ) $ 8.08 $ (1.93 )
PrimeEnergy Resources Corporation (NASDAQ:PNRG) announced today net income of $11.1 million, $5.62 per share, for the quarter ended March 31, 2022. During the period cash flow from operations and the sale of properties totaled $23.3 million and excess cash has been used to reduce bank debt. Currently the Company has no borrowings outstanding on its credit facility with $50 million of availability. The borrowing base redetermination is scheduled for June 2022 and the Company expects the availability to increase 50% to approximately $75 million. Oil and natural gas production and the average prices received (excluding gains and losses from derivatives) for the three months ended March 31, 20
Understanding Value Stocks A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. Benzinga Insights has compiled a list of value stocks in the energy sector that may be worth watching: PrimeEnergy Resources (NASDAQ:PNRG) - P/E: 7.79 RPC (NYSE:RES) - P/E: 6.72 ProPetro Holding (NYSE:PUMP) - P/E: 8.29 San Juan Basin Royalty (NYSE:SJT) - P/E: 3.06 SilverBow
With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Agilent Technologies, Inc. (NYSE:A) to report quarterly earnings at $1.35 per share on revenue of $1.67 billion after the closing bell. Agilent shares fell 0.01% to $113.14 in after-hours trading. Masimo Corporation (NASDAQ:MSI) disclosed that the Masimo W1 medical watch has received FDA 510(k) clearance for over-the-counter and prescription use. Masimo shares gained 0.2% to $94.00 in the after-hours trading session. Analysts expect Zoom Video Communications, Inc. (NASDAQ:ZM) to earn $1.08 per share on revenue of $1.12 billion for the
PrimeEnergy Resources Corporation (NASDAQ:PNRG) ("PrimeEnergy" or "Company") announced today that the Company was added to the broad-market Russell 2000 Index at the conclusion of the 2023 Russell Indexes annual reconstitution, effective at the US market opening on June 26, 2023. "We are pleased to have earned our inclusion in the Russell 2000® Index, one of the most widely cited performance benchmarks for U.S. small-cap companies," said Beverly Cummings, Vice President and CFO of PrimeEnergy. "This is an important event for PrimeEnergy as we continue to execute the development of our acreage position in the Permian Basin and Oklahoma." During the second quarter of 2023, the Company added t
Understanding Value Stocks A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. The following stocks are considered to be notable value stocks in the energy sector: PrimeEnergy Resources (NASDAQ:PNRG) - P/E: 6.39 SM Energy (NYSE:SM) - P/E: 3.02 Kosmos Energy (NYSE:KOS) - P/E: 8.47 Liberty Energy (NYSE:LBRT) - P/E: 4.31 GasLog Partners (NYSE:GLOP) - P/E: 4.95 PrimeEnergy Resources saw a decrease in earnings per share from 4.99 in Q4 to $0.53 now. SM Energy's earnings per share for Q1 s
PrimeEnergy Resources (NASDAQ:PNRG) reported quarterly earnings of $0.53 per share. This is a 86.98 percent decrease over earnings of $4.07 per share from the same period last year. The company reported $22.65 million in sales this quarter. This is a 13.59 percent decrease over sales of $26.21 million the same period last year.
PrimeEnergy Resources Corporation (NASDAQ:PNRG): Year Ended December 31, 2022 2021 Increase / (Decrease) Revenues (In 000's) $ 125,087 $ 72,458 $ 52,629 Net Income (In 000's) $ 48,664 $ 2,098 $ 46,566 Earnings per Common Share: Basic $ 24.91 $ 1.05 $ 23.86
The most overbought stocks in the energy sector presents an opportunity to go short on these overvalued companies. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70. Here’s the latest list of major overbought players in this sector. Riley Exploration Permian, Inc. (NYSE:REPX) Riley Exploration Permian reported better-than-expected quarterly sales. "2022 was another record year for Riley Permian, with our out-p