Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Service & Supply | Quarterly / Earnings Reports | First Quarter (1Q) Update | Financial Results | Capital Markets

PrimeEnergy Resources Corp. First Quarter 2022 Results

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Wednesday,May 25,2022

PrimeEnergy Resources Corp. reported its first quarter 2022 results.

PrimeEnergy reported net income of $11.1 million, $5.62 per share, for the quarter ended March 31, 2022. During the period cash flow from operations and the sale of properties totaled $23.3 million and excess cash has been used to reduce bank debt. Currently the Company has no borrowings outstanding on its credit facility with $50 million of availability. The borrowing base redetermination is scheduled for June 2022 and the Company expects the availability to increase 50% to approximately $75 million.

Oil and natural gas production and the average prices received (excluding gains and losses from derivatives) for the three months ended March 31, 2022 and 2021 were as follows:

Related Categories :

First Quarter (1Q) Update   

More    First Quarter (1Q) Update News

Gulf Coast News >>>

Mid-Continent News >>>