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.
