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PrimeEnergy Reports Increased Production, Higher Revenue, and Strategic Share Repurchases in Q1 2025
HOUSTON, May 19, 2025 (GLOBE NEWSWIRE) -- PrimeEnergy Resources Corporation (NASDAQ: PNRG) today ...
About this update from Pan American Energy Corp.
[{"type":"text","content":"PrimeEnergy Reports Increased Production, Higher Revenue, and Strategic Share Repurchases in Q1 2025\n\n\n\n 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.\n \n\n\n Key Highlights – Q1 2025 vs Q1 2024\n \n\n • Revenue: $50.1 million ↑ 16.4%\n \n\n • Oil Production: 457,000 barrels ↑ 6.0%\n \n\n • Natural Gas Production: 2.39 Bcf ↑ 106.6%\n \n\n • NGL Production: 454,000 barrels ↑ 120.4%\n \n\n • Net Income: $9.1 million ↓ 19.3%\n \n\n • Diluted EPS: $3.72 ↓ 15.7%\n \n\n • Share Buyback 2025: 47,970 shares repurchased at a cost of $9.17 million\n \n\n\n 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.\n \n\n Total assets were $339.3 million at quarter-end, up from $324.6 million as of December 31, 2024.\n \n\n “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.”\n \n\n 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.\n \n\n For investor inquiries, contact:\n \n\n Connie Ng – (713) 735-0000 ext. 6416\n \n\n\n Forward-Looking Statements\n \n\n 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 ...