PrimeEnergy Resources Corporation Reports Second Quarter and First Half 2026 Results

About this update from Pan American Energy Corp.

PrimeEnergy Resources Corporation Reports Second Quarter and First Half 2026 Results HOUSTON, Aug. 14, 2026 (GLOBE NEWSWIRE) -- PrimeEnergy Resources Corporation (NASDAQ: PNRG) (“PrimeEnergy” or the “Company”) today reported financial and operating results for the three and six months ended June 30, 2026. PrimeEnergy reported second quarter 2026 net income of $6.5 million, or $4.06 per basic share, compared with $3.2 million, or $1.94 per basic share, for the second quarter of 2025. For the first six months of 2026, net income was $10.9 million, or $6.72 per basic share, compared with $12.4 million, or $7.37 per basic share, for the first six months of 2025. Second quarter results reflected strong oil prices offset in part by significantly negative natural gas prices in the Permian Basin. The Company realized an average oil price of $98.85 per barrel, compared with $56.96 per barrel in the second quarter of 2025, while its average realized natural gas price declined to negative $3.53 per Mcf, resulting in negative natural gas revenue of $9.2 million. Second Quarter 2026 Highlights Net income of $6.5 million, compared with $3.2 million in the second quarter of 2025$28.7 million in cash and no outstanding bank debt at June 30, 2026Repurchased 31,290 shares during the quarter for approximately $5.5 millionBoard authorized the repurchase of an additional 300,000 sharesDrilling commenced on 24 horizontal wells in Martin and Upton Counties, with first production currently expected during the fourth quarter of 2026 Management Commentary Charles E. Drimal, Jr., Chairman and Chief Executive Officer of PrimeEnergy, commented: “PrimeEnergy reported net income of $6.5 million during the second quarter despite an unusually severe natural gas pricing environment in the Permian Basin. Our realized natural gas price averaged negative $3.53 per Mcf, resulting in more than $9 million of negative natural gas revenue. These conditions continue to reflect growth in Permian associated gas production combined with constrained pipeline takeaway and transportation capacity.” “Strong oil prices provided a substantial offset. Our average realized oil price increased to $98.85 per barrel from $56.96 per barrel in the second quarter of last year, resulting in oil revenue of $40.6 million despite lower oil production.” “We...

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