Quarterly ResultMay 20, 2026, 09:48 AM
PrimeEnergy Q1 Net Income $4.3M; Negative Gas Prices Impact Results
AI Summary
PrimeEnergy Resources Corporation reported Q1 2026 net income of $4.3 million, or $2.67 per basic share, a decrease from $9.1 million in Q1 2025. Despite unprecedented negative natural gas prices in the Permian Basin, the company generated approximately $24 million in cash flow and maintained zero debt. Management anticipates these challenging pricing conditions to persist throughout 2026 due to pipeline capacity constraints. The company also repurchased 14,500 shares and plans to invest $52 million in a Permian Basin project this year.
Key Highlights
- Q1 2026 net income attributable to common stockholders was $4.3 million ($2.67 per basic share).
- Q1 2025 net income was $9.1 million ($5.40 per basic share).
- Generated approximately $24 million in cash flow available for development activities.
- Realized natural gas price averaged negative $0.40 per Mcf in Q1 2026.
- Repurchased 14,500 shares of common stock at an average price of $180.81 per share.
- Ended the quarter with $19.4 million in cash and zero outstanding debt.
- Expects to invest approximately $52 million in a Permian Basin project during 2026.
Price Impact
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