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PrimeEnergy Resources Corporation Announces First Quarter Results

Nachrichtenquelle: Business Wire (engl.)
21.05.2019, 00:50  |  531   |   |   

PrimeEnergy Resources Corporation (NASDAQ: PNRG) announced today the following unaudited results for the quarters ended March 31, 2019 and 2018:

 

Three Months Ended March 31,

  2019       2018 Revenues (In 000’s) $ 24,419   $ 28,467 Net Income (In 000’s) $ (3,038 ) $ 3,286 Earnings per Common Share: Basic $ (1.49 ) $ 1.53 Diluted $ (1.49 ) $ 1.14 Shares Used in Calculation of: Basic EPS 2,037,080 2,142,396 Diluted EPS 2,037,080 2,893,722

Total assets at March 31, 2019 were $258,530,000 compared to $255,052,000 at December 31, 2018.

Oil and natural gas production and the average prices received (excluding gains and losses from derivatives) for the three months ended March 31, 2019 and 2018 were as follows:

    Three Months Ended March 31,
2019 2018   Increase /
(Decrease)
  Increase /
(Decrease)
Barrels of Oil Produced 356,000 323,000 33,000 10 %
Average Price Received $ 52.80   $ 62.23   $ (9.43 ) (15 )%
 
Oil Revenue (In 000’s) $ 18,798   $ 20,101   $ (1,303 ) (6 )%
 
Mcf of Gas Sold 948,000 907,000 41,000 5 %
Average Price Received $ 2.36   $ 2.61   $ (0.25 ) (10 )%
 
Gas Revenue (In 000’s) $ 2,235   $ 2,363   $ (128 ) (5 )%
 
Barrels of Natural Gas Liquids Sold 142,000 100,000 42,000 42 %
Average Price Received $ 20.02   $ 26.00   $ (5.98 ) (23 )%
 
Natural Gas Liquids Revenue (In 000’s) $ 2,844   $ 2,600   $ 244   9 %
 
Total Oil & Gas Revenue (In 000’s) $ 23,877   $ 25,064   $ (1,187 ) (5 )%

PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily in Texas, Oklahoma and West Virginia. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.

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