{"id":747908,"date":"2023-04-14T18:09:03","date_gmt":"2023-04-14T22:09:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/primeenergy-resources-corporation-pnrg-announces-yearend-production-and-financial-results-2\/"},"modified":"2023-04-14T18:09:03","modified_gmt":"2023-04-14T22:09:03","slug":"primeenergy-resources-corporation-pnrg-announces-yearend-production-and-financial-results-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/primeenergy-resources-corporation-pnrg-announces-yearend-production-and-financial-results-2\/","title":{"rendered":"PrimeEnergy Resources Corporation (PNRG) Announces Yearend Production and Financial Results"},"content":{"rendered":"

<\/p>\n

PrimeEnergy Resources Corporation (PNRG) Announces Yearend Production and Financial Results<\/b><\/p>\n

HOUSTON–(BUSINESS WIRE<\/a>)–
\nPrimeEnergy Resources Corporation (NASDAQ: PNRG):<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

Year Ended December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2022<\/b><\/p>\n<\/td>\n

\n\n

2021<\/b><\/p>\n<\/td>\n

\n\n

Increase \/ (Decrease)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenues (In 000\u2019s)<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n125,087<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n72,458<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n52,629<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Income (In 000\u2019s)<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n48,664<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,098<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n46,566<\/p>\n<\/td>\n<\/tr>\n

\n

\nEarnings per Common Share:<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nBasic<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n24.91<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n1.05<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n23.86<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n17.95<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.76<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n17.19<\/p>\n<\/td>\n<\/tr>\n

\n

\nShares Used in Calculation of:<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nBasic EPS<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,953,916<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,992,077<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted EPS<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,711,170<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,744,162<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nOil and gas production and the average prices received (excluding gains and losses from derivatives) for the years ended December 31, 2022 and 2021, were as follows:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

Years ended
\n
December 31,<\/b><\/p>\n<\/td>\n

\n\n

Increase \/
\n<\/b>
(Decrease)<\/b><\/p>\n<\/td>\n

\n\n

Increase \/
\n<\/b>
(Decrease)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n

2022<\/b><\/p>\n<\/td>\n

\n\n

2021<\/b><\/p>\n<\/td>\n

\n<\/tr>\n
\n

\nBarrels of Oil Produced<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n939,000<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n738,000<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n201,000<\/p>\n<\/td>\n

\n\n

\n27.24<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nAverage Price Received<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n96.70<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n68.39<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n28.31<\/p>\n<\/td>\n

\n\n

\n41.40<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nOil Revenue (In 000\u2019s)<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n90,803<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n50,474<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n40,329<\/p>\n<\/td>\n

\n\n

\n79.90<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nMcf of Gas Sold<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,325,000<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,236,000<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n89,000<\/p>\n<\/td>\n

\n\n

\n2.75<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nAverage Price Received<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n5.54<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n3.53<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2.01<\/p>\n<\/td>\n

\n\n

\n57.00<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nGas Revenue (In 000\u2019s)<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n18,428<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n11,432<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n6,996<\/p>\n<\/td>\n

\n\n

\n1.20<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nBarrels of Natural Gas Liquids Sold<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n417,000<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n416,000<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,000<\/p>\n<\/td>\n

\n\n

\n0.24<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nAverage Price Received<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n35.70<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n26.97<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n8.73<\/p>\n<\/td>\n

\n\n

\n32.37<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nNatural Gas Liquids Revenue (In 000\u2019s).<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n14,887<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n11,220<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n3,667<\/p>\n<\/td>\n

\n\n

\n32.68<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Oil & Gas Revenue (In 000\u2019s)<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n124,118<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n73,126<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n50,992<\/p>\n<\/td>\n

\n\n

\n69.73<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nProved reserves at December 31, 2022, were 7,171,000 barrels of oil, 4,330,000 barrels of natural gas liquids, and 31,307,000 thousand cubic feet of natural gas; or 16,719,000 barrels of oil equivalents.<\/p>\n

\nOur current bank facility provides for a credit line of $60 million. As of April 14, 2023, it was totally unused.<\/p>\n

Forward-Looking Statements\u00a0
\n
<\/b>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.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230414005460\/en\/<\/a><\/span><\/p>\n

\nPrimeEnergy Resources Corporation
\n
(713) 735-0000
\n
FAX (713) 735-0090<\/p>\n

KEYWORDS:<\/b> Texas United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Oil\/Gas Energy<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

PrimeEnergy Resources Corporation (PNRG) Announces Yearend Production and Financial Results HOUSTON–(BUSINESS WIRE)– PrimeEnergy Resources Corporation (NASDAQ: PNRG): \u00a0 Year Ended December 31, \u00a0 2022 2021 Increase \/ (Decrease) Revenues (In 000\u2019s) $ 125,087 $ 72,458 $ 52,629 Net Income (In 000\u2019s) $ 48,664 $ 2,098 $ 46,566 Earnings per Common Share: \u00a0 \u00a0 \u00a0 Basic $ 24.91 $ 1.05 $ 23.86 Diluted $ 17.95 $ 0.76 $ 17.19 Shares Used in Calculation of: \u00a0 \u00a0 \u00a0 Basic EPS \u00a0 1,953,916 \u00a0 1,992,077 \u00a0 Diluted EPS \u00a0 2,711,170 \u00a0 2,744,162 \u00a0 Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the years ended December 31, 2022 and 2021, were as follows: \u00a0 Years ended … <\/p>\n

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