PrimeEnergy Corporation Announces First Quarter Results

About this update from Primeenergy Resources Corporation

[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nPrimeEnergy Corporation (NASDAQ: PNRG) announced today the following unaudited results for the quarters ended March 31, 2021 and 2020:\n\n\n\n\n\nThree Months Ended March 31, \n\n\n\n\n\n \n\n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n\n\nRevenues (In 000’s)\n\n\n\n\n$\n\n\n\n14,792\n\n\n\n \n\n\n\n\n$\n\n\n\n26,108\n\n\n\n \n\n\n\n\n\nNet Loss (In 000’s)\n\n\n\n\n$\n\n\n\n(1,455\n\n\n\n)\n\n\n\n\n$\n\n\n\n(170\n\n\n\n)\n\n\n\n\n\nEarnings per Common Share:\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\nBasic\n\n\n\n\n$\n\n\n\n(0.73\n\n\n\n)\n\n\n\n\n$\n\n\n\n(0.09\n\n\n\n)\n\n\n\n\n\nDiluted\n\n\n\n\n$\n\n\n\n(0.73\n\n\n\n)\n\n\n\n\n$\n\n\n\n(0.09\n\n\n\n)\n\n\n\n\n\nShares Used in Calculation of:\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\nBasic EPS\n\n\n\n\n \n\n\n\n1,994,197\n\n\n\n \n\n\n\n\n \n\n\n\n1,995,174\n\n\n\n \n\n\n\n\n\nDiluted EPS\n\n\n\n\n \n\n\n\n1,994,197\n\n\n\n \n\n\n\n\n \n\n\n\n1,995,174\n\n\n\n \n\n\n\n\nTotal assets at March 31, 2021 were $199,338,000 compared to $200,484,000 at December 31, 2020.\n\nOil and natural gas production and the average prices received (excluding gains and losses from derivatives) for the three months ended March 31, 2021 and 2020 were as follows:\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n \n\n\n\n\n \n\n\n2021\n\n\n\n \n\n\n\n \n\n\n2020\n\n\n\n \n\n\n\nIncrease /\n\n\n(Decrease)\n\n\n\n \n\n\n\nIncrease /\n\n\n(Decrease)\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\nBarrels of Oil Produced\n\n\n\n\n \n\n\n\n163,000\n\n\n\n\n \n\n\n\n234,000\n\n\n\n\n \n\n\n\n(71,000\n\n\n\n)\n\n\n\n\n(30.34\n\n\n\n)%\n\n\n\n\n\nAverage Price Received\n\n\n\n\n$\n\n\n\n56.87\n\n\n\n\n$\n\n\n\n45.77\n\n\n\n\n$\n\n\n\n11.10\n\n\n\n \n\n\n\n\n24.25\n\n\n\n%\n\n\n\n\n\nOil Revenue (In 000’s)\n\n\n\n\n$\n\n\n\n9,270\n\n\n\n\n$\n\n\n\n10,711\n\n\n\n\n$\n\n\n\n(1,441\n\n\n\n)\n\n\n\n\n(13.45\n\n\n\n)%\n\n\n\n\n\nMcf of Gas Sold\n\n\n\n\n \n\n\n\n665,000\n\n\n\n\n \n\n\n\n938,000\n\n\n\n\n \n\n\n\n(273,000\n\n\n\n)\n\n\n\n\n(29.10\n\n\n\n)%\n\n\n\n\n\nAverage Price Received\n\n\n\n\n$\n\n\n\n2.49\n\n\n\n\n$\n\n\n\n0.90\n\n\n\n\n$\n\n\n\n1.59\n\n\n\n \n\n\n\n\n177.03\n\n\n\n%\n\n\n\n\n\nGas Revenue (In 000’s)\n\n\n\n\n$\n\n\n\n1,658\n\n\n\n\n$\n\n\n\n846\n\n\n\n\n$\n\n\n\n812\n\n\n\n \n\n\n\n\n95.98\n\n\n\n%\n\n\n\n\n\nBarre...

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