PrimeEnergy Q3 net income $10.6 mln
PrimeEnergy reported a Q3 net income of $10.6 million and total revenue of $45.97 million. The company retired 73,470 shares, reducing outstanding shares by over 4%. Gas revenue increased due to higher pricing and volumes, while oil volumes declined due to mature asset decline. PrimeEnergy focuses on long-lived production and capital discipline in Texas and Oklahoma.
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Overview
- PrimeEnergy Q3 net income was $10.6 mln, with total revenue of $45.97 mln
- Company retired 73,470 shares, reducing outstanding shares by over 4%
- Gas revenue rose significantly due to higher pricing and volumes
Outlook
- Company continues development in Texas and Oklahoma, prioritizing long-lived production
- PrimeEnergy emphasizes disciplined investment and capital return to shareholders
Result Drivers
- GAS REVENUE INCREASE - Co attributes significant rise in gas revenue to higher pricing and increased volumes
- OIL VOLUME DECLINE - Co reports oil volumes declined due to natural decline in mature assets
- CAPITAL DISCIPLINE - Co prioritizes long-lived production and capital discipline in Texas and Oklahoma
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 $45.97
Revenue mln
Q3 Net $10.60
Income mln
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
