Service & Supply | Quarterly / Earnings Reports | First Quarter (1Q) Update | Financial Results | Capital Markets
PrimeEnergy Resources Corp. First Quarter 2022 Results
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
-
NGL Energy Partners Fiscal Q1 2023 Results
-
Peyto Exploration Second Quarter 2022 Results
-
HighPeak Energy First Quarter 2022 Results
-
Callon Petroleum First Quarter 2022 Results
-
Evolution Petroleum First Quarter 2022 Results
Gulf Coast News >>>
-
Operator Ups Eagle Ford 2023 Capital & Well Program +47% Y/Y -
-
Here is what To Expect in 2023 US. Drilling Market; From Contractors -
-
E&P Companies Talk Increase In 2023 Plans; Rigs, Frac Crews and Capital Budgets -
-
Murphy Oil Third Quarter 2022 Results -
-
ConocoPhillips Third Quarter 2022 Results -