PrimeEnergy Corporation Announces First Quarter Results
18 Maggio 2021 - 12:25AM
Business Wire
PrimeEnergy Corporation (NASDAQ: PNRG) announced today the
following unaudited results for the quarters ended March 31, 2021
and 2020:
Three Months Ended March
31,
2021
2020
Revenues (In 000’s)
$
14,792
$
26,108
Net Loss (In 000’s)
$
(1,455
)
$
(170
)
Earnings per Common Share:
Basic
$
(0.73
)
$
(0.09
)
Diluted
$
(0.73
)
$
(0.09
)
Shares Used in Calculation of:
Basic EPS
1,994,197
1,995,174
Diluted EPS
1,994,197
1,995,174
Total assets at March 31, 2021 were $199,338,000 compared to
$200,484,000 at December 31, 2020.
Oil and natural gas production and the average prices received
(excluding gains and losses from derivatives) for the three months
ended March 31, 2021 and 2020 were as follows:
Three Months Ended March
31,
2021
2020
Increase /
(Decrease)
Increase /
(Decrease)
Barrels of Oil Produced
163,000
234,000
(71,000
)
(30.34
)%
Average Price Received
$
56.87
$
45.77
$
11.10
24.25
%
Oil Revenue (In 000’s)
$
9,270
$
10,711
$
(1,441
)
(13.45
)%
Mcf of Gas Sold
665,000
938,000
(273,000
)
(29.10
)%
Average Price Received
$
2.49
$
0.90
$
1.59
177.03
%
Gas Revenue (In 000’s)
$
1,658
$
846
$
812
95.98
%
Barrels of Natural Gas Liquids Sold
86,000
127,000
(41,000
)
(32.28
)%
Average Price Received
$
20.29
$
9.79
$
10.50
107.26
%
Natural Gas Liquids Revenue (In 000’s)
$
1,745
$
1,243
$
502
40.39
%
Total Oil & Gas Revenue (In 000’s)
$
12,673
$
12,800
$
(127
)
(0.99
)%
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
and Oklahoma. 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/20210517005955/en/
Connie Ng (713) 735-0000
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