PrimeEnergy Resources Corporation
NASDAQCapital Structure
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in mil. unless spec.Company Description
- CEO
- Charles E. Drimal
- Full Time Employees
- 67
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 9821 Katy Freeway Houston TX United States of America 77024
- IPO Date
- Mar 17, 1980
- CIK
- 0000056868
- Similar Companies
- Business
- PrimeEnergy Resources Corporation (PNRG) is an independent oil and natural gas company engaged in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids properties across the United States. The company owns leasehold, mineral, and royalty interests in producing and non-producing properties primarily in Oklahoma, Texas, and the Permian Basin in West Texas, as well as other states including Colorado, Kansas, Louisiana, Mississippi, Montana, Nebraska, New Mexico, North Dakota, Utah, West Virginia, and Wyoming; it operates approximately 534 active wells and holds non-operating interests and royalties in approximately 952 additional wells, while maintaining an acreage position of about 16,407 gross (9,341 net) acres in the Permian Basin across Reagan, Upton, Martin, and Midland counties. Through subsidiaries Prime Operating Company, Eastern Oil Well Service Company, and EOWS Midland Company, PrimeEnergy provides well-servicing support operations, site preparation, and construction services for onshore oil and gas drilling and reworking to its wells and third parties; it also acquires producing properties through joint ventures with industry partners and sells production to direct purchasers or via joint operating agreements. Founded in 1973 and headquartered in Houston, Texas, the company, formerly known as PrimeEnergy Corporation until its name change in December 2018, employs 78 people and focuses on the energy sector's oil and gas exploration and production segment, targeting onshore mature fields and mid-continent areas. Recent developments include significant production growth with oil up 133.99%, natural gas up 95.49%, and natural gas liquids up 88.11% in Q2 2025 versus Q2 2023, driven by 21 new wells brought online and 19 more in development; Q1 2025 NGL production rose 120.4% year-over-year to 454,000 barrels amid revenue growth of 16.4%, alongside share repurchases totaling about $21.3 million for 100,970 shares in 2025 and an expansion of its revolving credit line from $85 million to $115 million.
Company News
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PrimeEnergy Resources Corporation Reports First Quarter 2026 Results; Generates Strong Cash Flow Despite Negative Natural Gas Prices