PrimeEnergy Resources Corporation (PNRG) reported a 35% decline in second-quarter revenues for 2025, totaling $42 million, down from $64.8 million in 2024. Net income fell to $3.2 million, a drop from $19.7 million last year, with diluted earnings per share decreasing to $1.33 from $7.77. The company has seen its stock decline by 1.7% since the earnings report, against the S&P 500’s 0.9% gain during the same period.
For the first half of 2025, total revenues were $92 million, down from $107.8 million in the same period last year, with net income falling to $12.4 million from $31.1 million. Oil sales dropped to $34.2 million from $56.2 million last year, attributed to a 30% decrease in realized oil prices and a 14% decline in production volumes.
Despite these challenges, PrimeEnergy plans to continue share repurchases, having already deployed $12.1 million in the first half of 2025, and intends to invest $98 million in 44 horizontal wells this year, focusing on sustaining production growth, particularly in the Permian Basin.
