HOUSTON, April 15, 2025 (GLOBE NEWSWIRE) -- The following table summarizes the primary components of production volumes and average sales prices realized for the years ended December 31, 2024 and 2023 (excluding realized gains and losses from derivatives). Years ended December 31, Increase / Increase / 2024 2023 (Decrease) (Decrease) Barrels of Oil Produced 2,556,000 1,144,000 1,412,000 123.43 %Average Price Received $75.80 $76.84 $(1.04) (1.35)%Oil Revenue (In 000’s) $193,737 $87,906 $105,831 120.39 %Mcf of Gas Sold 7,766,000 4,127,000 3,639,000 88.18 %Average Price Received $0.43 $1.92 $(1.49) (77.60)%Gas Revenue (In 000’s) $3,309 $7,935 $(4,626) (58.30)%Barrels of Natural Gas Liquids Sold 1,284,000 606,000 678,000 111.88 %Average Price Received $20.25 $19.64 $0.61 3.11 %Natural Gas Liquids Revenue (In 000’s) $25,996 $11,901 $14,095 118.44 %Total Oil & Gas Revenue (In 000’s) $223,042 $107,742 $115,300 107.01 % Proved reserves at December 31, 2024, were 10,609 barrels of oil, 8,267 barrels of natural gas liquids, and 45,815 MMcf of natural gas. Year Ended December 31, 2024 2023 Increase /(Decrease) Revenues (In 000’s)$237,796 $132,810 $104,986 Net Income (In 000’s)$55,404 $28,103 $27,301 Earnings per Common Share: Basic$31.43 $15.19 $16.24 Diluted$21.95 $10.77 $11.18 Shares Used in Calculation of: Basic EPS1,762,644 1,849,780 Diluted EPS2,523,581 2,608,786 PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily in Texas.
These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves.
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