PrimeEnergy Resources Corporation Announces First Quarter Results
20 Maio 2019 - 7:50PM
Business Wire
PrimeEnergy Resources Corporation (NASDAQ: PNRG) announced today
the following unaudited results for the quarters ended
March 31, 2019 and 2018:
Three Months
Ended March 31,
2019 2018 Revenues (In
000’s) $ 24,419 $ 28,467 Net Income (In 000’s) $ (3,038 ) $
3,286 Earnings per Common Share: Basic $ (1.49 ) $ 1.53 Diluted $
(1.49 ) $ 1.14 Shares Used in Calculation of: Basic EPS 2,037,080
2,142,396 Diluted EPS 2,037,080 2,893,722
Total assets at March 31, 2019 were $258,530,000 compared to
$255,052,000 at December 31, 2018.
Oil and natural gas production and the average prices received
(excluding gains and losses from derivatives) for the three months
ended March 31, 2019 and 2018 were as follows:
Three Months Ended March 31, 2019
2018 Increase /(Decrease)
Increase /(Decrease) Barrels of Oil Produced 356,000
323,000 33,000 10 % Average Price Received $ 52.80 $ 62.23
$ (9.43 ) (15 )% Oil Revenue (In 000’s) $ 18,798
$ 20,101 $ (1,303 ) (6 )% Mcf of Gas Sold
948,000 907,000 41,000 5 % Average Price Received $ 2.36 $
2.61 $ (0.25 ) (10 )% Gas Revenue (In 000’s) $ 2,235
$ 2,363 $ (128 ) (5 )% Barrels of Natural Gas
Liquids Sold 142,000 100,000 42,000 42 % Average Price Received $
20.02 $ 26.00 $ (5.98 ) (23 )% Natural Gas
Liquids Revenue (In 000’s) $ 2,844 $ 2,600 $ 244
9 % Total Oil & Gas Revenue (In 000’s) $ 23,877
$ 25,064 $ (1,187 ) (5 )%
PrimeEnergy is an independent oil and natural gas company
actively engaged in acquiring, developing and producing oil and
natural gas, and providing oilfield services, primarily in Texas,
Oklahoma and West Virginia. The Company’s common stock is traded on
the Nasdaq Stock Market under the symbol PNRG. If you have any
questions on this release, please contact Connie Ng at (713)
735-0000 ext 6416.
Forward-Looking Statements
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 such
forward-looking statements. These statements constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, and are subject to the safe harbors
created thereby. These statements are not guarantees of future
performance and involve risks and uncertainties and are based on a
number of assumptions that could ultimately prove inaccurate and,
therefore, there can be no assurance that they will prove to be
accurate. Actual results and outcomes may vary materially from what
is expressed or forecast in such statements due to various risks
and uncertainties. These risks and uncertainties include, among
other things, the possibility of drilling cost overruns and
technical difficulties, volatility of oil and gas prices,
competition, risks inherent in the Company's oil and gas
operations, the inexact nature of interpretation of seismic and
other geological and geophysical data, imprecision of reserve
estimates, and the Company's ability to replace and expand oil and
gas reserves. Accordingly, stockholders and potential investors are
cautioned that certain events or circumstances could cause actual
results to differ materially from those projected.
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version on businesswire.com: https://www.businesswire.com/news/home/20190520005847/en/
Connie Ng(713) 735-0000 ext 6416
PrimeEnergy Resources (NASDAQ:PNRG)
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