Business
PrimeEnergy Resources Corporation Announces Yearend Production and Financial Results
HOUSTON--(BUSINESS WIRE)-- Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the years ended December
About this update from Primeenergy Resources Corporation
[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nOil and gas production and the average prices received (excluding gains and losses from derivatives) for the years ended December 31, 2019 and 2018, were as follows:\n\n\n\n\n\n\n\nTwelve months ended\nDecember 31, \n\n\n\n \n\n\n\nIncrease / \n\n\n\n\n\n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\n(Decrease)\n\n\n\n\n(Decrease)\n\n\n\n\nBarrels of Oil Produced\n\n\n\n \n\n\n\n1,242,000\n\n\n\n\n \n\n\n\n1,187,000\n\n\n\n\n \n\n\n\n55,000\n\n\n\n \n\n\n\n\n4.60\n\n\n\n%\n\n\n\n\nAverage Price Received\n\n\n\n$\n\n\n\n55.04\n\n\n\n\n$\n\n\n\n60.46\n\n\n\n\n($\n\n\n\n5.42\n\n\n\n)\n\n\n\n\n(9.00)\n\n\n\n%\n\n\n\n\nOil Revenue (In 000’s)\n\n\n\n$\n\n\n\n68,366\n\n\n\n\n$\n\n\n\n71,766\n\n\n\n\n($\n\n\n\n3,400\n\n\n\n)\n\n\n\n\n(4.70)\n\n\n\n%\n\n\n\n\nMcf of Gas Sold\n\n\n\n \n\n\n\n4,397,000\n\n\n\n\n \n\n\n\n3,735,000\n\n\n\n\n \n\n\n\n662,000\n\n\n\n \n\n\n\n\n17.70\n\n\n\n%\n\n\n\n\nAverage Price Received\n\n\n\n$\n\n\n\n1.49\n\n\n\n\n$\n\n\n\n2.30\n\n\n\n\n($\n\n\n\n0.81\n\n\n\n)\n\n\n\n\n(35.30)\n\n\n\n%\n\n\n\n\nGas Revenue (In 000’s)\n\n\n\n$\n\n\n\n6,539\n\n\n\n\n$\n\n\n\n8,590\n\n\n\n\n($\n\n\n\n2,051\n\n\n\n)\n\n\n\n\n(23.90)\n\n\n\n%\n\n\n\n\nBarrels of Natural Gas Liquids Sold\n\n\n\n \n\n\n\n574,000\n\n\n\n\n \n\n\n\n463,000\n\n\n\n\n \n\n\n\n111,000\n\n\n\n \n\n\n\n\n24.00\n\n\n\n%\n\n\n\n\nAverage Price Received\n\n\n\n$\n\n\n\n15.87\n\n\n\n\n$\n\n\n\n27.79\n\n\n\n\n($\n\n\n\n11.92\n\n\n\n)\n\n\n\n\n(42.90)\n\n\n\n%\n\n\n\n\nNatural Gas Liquids Revenue (In 000’s)\n\n\n\n$\n\n\n\n9,110\n\n\n\n\n$\n\n\n\n12,859\n\n\n\n\n($\n\n\n\n3,749\n\n\n\n)\n\n\n\n\n(29.20)\n\n\n\n%\n\n\n\n\nTotal Oil & Gas Revenue (In 000’s)\n\n\n\n$\n\n\n\n84,015\n\n\n\n\n$\n\n\n\n93,215\n\n\n\n\n($\n\n\n\n9,200\n\n\n\n)\n\n\n\n\n(9.90)\n\n\n\n%\n\n\n\n\n\nProved reserves at December 31, 2019 were 6,214,000 barrels of oil, 3,931,000 barrels of natural gas liquids and 24,542,000 thousand cubic feet of natural gas; or 14,235,000 barrels of oil equivalents. Proved reserves at December 31, 2019 were 6,214,000 barrels of oil, 3,931,000 barrels of natural gas liquids and 24,542,000 thousand cubic feet of natural gas; or 14,235,000 barrels of oil equivalents. During 2019, we reduced our bank debt by $12,745,000. Currently our bank debt stands at $53,500,000.\n\n\n\n\n \n\n\n \n\n\n\n\n\nYear Ended December 31,\n\n\n\n\n\...