PrimeEnergy Resources Corporati
128.92-2.90 (-2.2%)
Oct 29, 4:00:01 PM EDT · NasdaqCM · PNRG · USD
Key Stats
Market Cap
212.59MP/E (TTM)
8.68Basic EPS (TTM)
14.86Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
PrimeEnergy Resources posted Q2 FY2025 net income of $3.2M, down sharply from $19.7M a year earlier, as oil revenues fell 39.2% y/y to $34.2M on lower prices and 13.7% fewer barrels produced, while natural gas sales nearly vanished. Yet production costs dropped 18.5% y/y, and DD&A climbed 20.2% from new wells, squeezing operating margins but buoyed by West Texas horizontals adding reserves. Cash from operations hit $29.9M for the half, funding $28.6M in property spends; debt stands at $12M against $103M revolver availability, maturing 2028. The OBBBA's tax perks should lift cash flows. Volatility in commodity prices remains a key risk.
8-K
Auditor switch completed
PrimeEnergy Resources Corporation dismissed its auditor Grassi & Co. on June 27, 2025, and immediately engaged Withum Smith+Brown, PC as its new independent registered public accounting firm. No disagreements or reportable events arose during Grassi's tenure over the fiscal years ended December 31, 2024 and 2023. The switch ensures seamless audit continuity. Clean transition, no drama.
8-K
Annual meeting elects directors
PrimeEnergy Resources Corporation held its annual stockholder meeting on June 5, 2025, electing five directors—Charles E. Drimal, Jr., Beverly Cummings, H. Gifford Fong, Thomas S. T. Gimbel, and Clint Hurt—each with majority support from the 1,186,850 shares present. Stockholders approved executive compensation via advisory vote, with 905,423 for and 35,392 against. They favored triennial say-on-pay frequency, 910,899 to 274,284. All nominees won decisively.
10-Q
Q1 FY2025 results
PrimeEnergy Resources posted Q1 FY2025 net income of $9.1M, down from $11.3M a year earlier, as higher DD&A from new West Texas wells offset revenue gains. Total revenues climbed 16% y/y to $50.1M, driven by oil and gas sales up 21% to $47.2M on 6% more oil barrels, 107% more gas Mcf, and 120% more NGL barrels, though prices dipped for oil and NGLs while gas prices doubled. Production costs rose 4% y/y to $9.5M, taxes 11% to $3.3M, and interest 174% to $0.6M on increased borrowings, yet operating margins held firm. Cash from operations hit $38.2M, funding $34.7M in capex; free cash flow stood at $3.5M (derived). Debt sits at $6.5M against $108.5M revolver availability under the $115M base, maturing June 2026. New horizontals in the Permian boosted output. Commodity price swings remain a key risk.
10-K
FY2024 results
PrimeEnergy Resources Corporation delivered robust FY2024 results, with oil production surging 123% year-over-year to 2,556,000 barrels and NGLs climbing 112% to 1,284,000 barrels, driven by 48 new horizontal wells in West Texas that boosted total revenue 107% to $223.1 million despite softer gas prices. Q4 momentum accelerated as three Apache-operated wells in Upton County came online in December, contributing to proved reserves of 26,512 MBOE—up from 29,046 MBOE in 2023—while West Texas output hit 13,749 BOE per day, underscoring margin gains from efficient drilling. Yet gas revenue dipped 58% amid low prices, and field services fell 30% post-sale of a subsidiary. Liquidity remains solid with $97.5 million available under a $115 million borrowing base, funding $129 million in 2025 drilling across 43 wells. Q4 accelerated growth. Volatility in commodity prices could stall quarterly momentum.
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