Quarterly ResultMay 20, 2026, 06:12 AM
PrimeEnergy Q1 Net Income $4.34M, down 52.5%; Revenue $39.4M
AI Summary
PrimeEnergy Resources Corp. reported a significant decline in net income and total revenue for the first quarter of 2026 compared to the prior year. Net income decreased by 52.5% to $4.34 million, while total revenues fell by 21.3% to $39.40 million, primarily due to lower natural gas and NGL prices and an unrealized loss on derivatives. The company maintained a $115 million credit facility with no outstanding borrowings.
Key Highlights
- Net income attributable to common stockholders decreased 52.5% to $4.34 million.
- Total revenues and other income fell 21.3% to $39.40 million.
- Basic earnings per share was $2.67, down from $5.40 in Q1 2025.
- Oil revenue increased 8.3% to $35.37 million.
- Natural gas revenue was a loss of $1.02 million, down from a $6.03 million gain.
- Natural gas liquids revenue decreased 39.3% to $5.18 million.
- Net cash provided by operating activities decreased 58% to $16.06 million.
- Cash and cash equivalents increased to $19.37 million as of March 31, 2026.
Price Impact
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