PrimeEnergy Resources Corporation Announces Third Quarter Results

About this update from Primeenergy Resources Corporation

[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nPrimeEnergy Resources Corporation (NASDAQ: PNRG) announced today the following unaudited results for the periods ended September 30, 2020 and 2019:\n\n\n\n \n\n\n\n\nThree Months Ended\nSeptember 30,\n\n\n\n\nNine Months Ended\nSeptember 30,\n\n\n\n\n\n \n\n\n\n\n2020\n\n\n\n\n2019\n\n\n\n \n\n\n\n2020\n\n\n\n\n2019\n\n\n\n\n\nRevenues\n\n\n\n\n$\n\n\n\n11,792,000\n\n\n\n\n$\n\n\n\n28,182,000\n\n\n\n \n\n\n\n$\n\n\n\n45,178,000\n\n\n\n\n$\n\n\n\n84,135,000\n\n\n\n\n\nNet Income\n\n\n\n\n$\n\n\n\n6,501,000\n\n\n\n\n$\n\n\n\n2,512,000\n\n\n\n \n\n\n\n$\n\n\n\n65,000\n\n\n\n\n$\n\n\n\n5,249,000\n\n\n\n\n\nEarnings per Common Share:\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\nBasic\n\n\n\n\n$\n\n\n\n3.26\n\n\n\n\n$\n\n\n\n1.25\n\n\n\n \n\n\n\n$\n\n\n\n0.03\n\n\n\n\n$\n\n\n\n2.61\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\n\n\n \n\n\n\n\n \n\n\n\n\n\nBasic EPS\n\n\n\n\n \n\n\n\n1,994,177\n\n\n\n\n \n\n\n\n2,008,688\n\n\n\n \n\n\n\n \n\n\n\n1,994,175\n\n\n\n\n \n\n\n\n2,008,593\n\n\n\n\nTotal assets at September 30, 2020 were $208,681 compared to $229,365 at December 31, 2019.\n\nOil and gas production and the average prices received (excluding gains and losses from derivatives) for the three and nine months ended September 30, 2020 and 2019 were as follows:\n\n\n\n \n\n\n\n\n \n\n\n\n\nNine months ended September 30,\n\n\n\n\n\n \n\n\n\n\n2020\n\n\n\n\n2019\n\n\n\n\nIncrease /\n(Decrease)\n\n\n\n\nIncrease /\n(Decrease)\n\n\n\n\n\nBarrels of Oil Produced\n\n\n\n\n \n\n\n\n538,000\n\n\n\n\n \n\n\n\n1,012,000\n\n\n\n\n \n\n\n\n(474,000\n\n\n\n)\n\n\n\n\n(47\n\n\n\n)%\n\n\n\n\n\nAverage Price Received\n\n\n\n\n$\n\n\n\n38.41\n\n\n\n\n$\n\n\n\n54.72\n\n\n\n\n$\n\n\n\n(16.31\n\n\n\n)\n\n\n\n\n(30\n\n\n\n)%\n\n\n\n\n\nOil Revenue (In 000’s)\n\n\n\n\n$\n\n\n\n20,663\n\n\n\n\n$\n\n\n\n55,370\n\n\n\n\n$\n\n\n\n(34,707\n\n\n\n)\n\n\n\n\n(63\n\n\n\n)%\n\n\n\n\n\nMcf of Gas Sold\n\n\n\n\n \n\n\n\n2,038,000\n\n\n\n\n \n\n\n\n3,549,000\n\n\n\n\n \n\n\n\n(1,241,000\n\n\n\n)\n\n\n\n\n(35\n\n\n\n)%\n\n\n\n\n\nAverage Price Received\n\n\n\n\n$\n\n\n\n1.06\n\n\n\n\n$\n\n\n\n1.43\n\n\n\n\n$\n\n\n\n(0.37\n\n\n\n)\n\n\n\n\n(26\n\n\n\n)%\n\n\n\n\n\nGas Revenue (In 000’s)\n\n\n\n\n$\n\n\n\n2,441\n\n\n\n\n$\n\n\n\n5,057\n\n\n\n\n$\n\n\n\n(2,616\n\n\n\n)\n\n\n\n\n(52\n\n\n\n)%\n\n\n\n\n\n...

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