PrimeEnergy Resources Corporation (PNRG) Announces Yearend Production and Financial Results

Production and Revenue Summary - The company produced 2,556,000 barrels of oil in 2024, a significant increase from 1,144,000 barrels in 2023, representing a 123.43% increase [2] - Oil revenue reached $193,737,000 in 2024, up from $87,906,000 in 2023, marking a 120.39% increase [2] - Gas sold increased to 7,766,000 Mcf in 2024 from 4,127,000 Mcf in 2023, an increase of 88.18% [2] - Total oil and gas revenue for 2024 was $223,042,000, compared to $107,742,000 in 2023, reflecting a 107.01% increase [2] Financial Performance - Total revenues for the year ended December 31, 2024, were $237,796,000, up from $132,810,000 in 2023, an increase of $104,986,000 [3] - Net income for 2024 was $55,404,000, compared to $28,103,000 in 2023, showing an increase of $27,301,000 [3] - Basic earnings per share (EPS) rose to $31.43 in 2024 from $15.19 in 2023, an increase of $16.24 [3] - Diluted EPS increased to $21.95 in 2024 from $10.77 in 2023, an increase of $11.18 [3] Company Overview - The company, PrimeEnergy, is an independent oil and natural gas entity engaged in acquiring, developing, and producing oil and natural gas, primarily in Texas [4]