PrimeEnergy Corporation

PrimeEnergy Resources Corporation reported second-quarter 2026 earnings per share of $2.75, up 106.8% from $1.33 a year earlier, as higher oil prices offset weak natural gas pricing. Revenues rose 1.2% to $42.5 million, while net income more than doubled to $6.5 million. The company's average realized oil price surged 73.5% to $98.85 per barrel, lifting oil revenues 18.9% to $40.6 million despite a 31.5% drop in oil sales volumes. Natural gas was a drag, with realized prices turning negative at minus $3.53 per thousand cubic feet, resulting in negative revenues of $9.2 million. PrimeEnergy repurchased 31,290 shares for $5.5 million during the quarter and had no bank debt, with cash and cash equivalents growing to $28.7 million. The company plans to invest $52 million in 28 horizontal wells in 2026, with drilling underway on 24 wells in Martin and Upton counties.