PrimeEnergy

What PrimeEnergy does

PrimeEnergy Resources Corporation (NASDAQ: PNRG) is a publicly traded oil and gas exploration and production company founded in 1973 and headquartered in Houston, Texas, with operational offices in Midland, Texas and Oklahoma City, Oklahoma. The company acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids (NGL) primarily from operated and non-operated properties in the Permian Basin and other conventional U.S. assets. Its operations are conducted through wholly-owned subsidiaries Prime Operating Company and EOWS Midland Company, with additional international exposure via a subsidiary's involvement in the Philippines' Malampaya gas field.

The company sells its hydrocarbon production into commodity markets via direct enterprise sales to refineries, gas processors, and energy traders at prevailing market prices. Revenue is therefore fully commodity-price-dependent, with realized prices for crude oil, natural gas, and NGL fluctuating with market conditions. In 2025 the company generated $189.1 million in total revenue (down from $237.8 million in 2024) on the back of a 26.5% increase in natural gas production and a 77.3% increase in realized natural gas prices, offset by lower realized oil and NGL prices. Q1 2026 results showed $4.3 million in net income and approximately $24 million in cash flow from operations, even as Permian Basin natural gas prices averaged negative $0.40 per Mcf due to insufficient pipeline takeaway capacity.

PrimeEnergy maintains an unusually conservative capital structure for a small-cap E&P: zero debt outstanding, a $115 million reaffirmed borrowing base under a $300 million senior secured revolving credit facility (Fifth Amendment, February 2026) led by Citibank N.A., and a market capitalization of approximately $354.94 million as of April 2026. The company has executed an aggressive share repurchase program, reducing shares outstanding from 7.6 million to 1.6 million. Growth going forward is anchored by a joint venture with Apache Corporation for a planned $52 million Permian Basin drilling program beginning June 2026, in which PrimeEnergy holds a proportional working interest in production revenues.

Name

PrimeEnergy

Legal name

PrimeEnergy Resources Corporation

Website

https://primeenergy.com

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

51–100 employees

Short description

PrimeEnergy Resources Corporation (NASDAQ: PNRG) is a publicly traded oil and gas exploration and production company operating in the Permian Basin, selling crude oil, natural gas, and NGL to downstream commodity buyers and processors.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration & Production

NAICS

Natural Gas Extraction (21113), Crude Petroleum Extraction (21112)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)

akta.pro secondary industry

Gas Processing Plant Residue Gas & NGL Takeaway (Midstream Interface) (EUAAACAK)

Keywords

• Oil and gas exploration
• Crude oil production
• Natural gas production
• Hydrocarbon development
• Upstream energy operations

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Oil and Gas Sales: PrimeEnergy generates revenue through the sale of crude oil, natural gas, and natural gas liquids (NGL) produced from its operated and non-operated properties. Revenue is commodity price-dependent and realized through spot market sales to下游 buyers and processors.
2. Joint Venture Production: The company participates in joint ventures with partners like Apache Corporation, where PrimeEnergy holds working interests and receives its proportional share of production revenues.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

PrimeEnergy Resources Corporation acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids (NGL) primarily in the Permian Basin through its wholly-owned subsidiary Prime Operating Company, with additional conventional asset operations in Oklahoma and an investment interest in the Philippines' Malampaya gas field. The company operates both its own wells and participates in non-operated joint ventures, generating revenue through the sale of extracted hydrocarbons to downstream energy buyers at prevailing market prices.

Product overview

PrimeEnergy Resources Corporation is an oil and gas exploration and production company operating in the Permian Basin (Houston, TX, Midland, TX, Oklahoma City, OK) and internationally through its subsidiary Prime Energy Resources Development in the Philippines' Malampaya gas field. The company operates through its subsidiary entities including Prime Operating Company and EOWS Midland Company, focusing on natural gas, oil, and NGL production with operations spanning the US Permian Basin and the Philippines.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Production

Quantifiable outcome

• Share repurchases reduced shares outstanding from 7.6 million to 1.6 million
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Apache CorporationcoreStrategic or Co-development Partner · 20 May 2026PrimeEnergy holds a joint venture relationship with Apache Corporation for a Permian Basin project. Apache indicated drilling activity is expected to begin in June 2026 with planned investment of approximately $52 million. PrimeEnergy receives its proportional working interest share of production revenues from this non-operated property.

Scale indicators11 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Crescent Energy: Crescent Energy is a Permian Basin-focused upstream E&P with operations concentrated in the Midland and Delaware sub-basins and a similar mix of crude, natural gas, and NGL production; closely comparable in asset base and product mix to PrimeEnergy.
• Matador Resources: Matador Resources is a Permian Basin-focused independent E&P producing crude oil, natural gas, and NGLs from the Delaware Basin; highly comparable in scale, basin focus, and product mix to PrimeEnergy's Permian operations.
• SM Energy: SM Energy operates primarily in the Permian Basin (and complementary Austin Chalk), producing crude oil, natural gas, and NGLs; a directly comparable peer in terms of basin focus, commodity mix, and operational scale to PrimeEnergy.
• Magnolia Oil & Gas: Magnolia Oil & Gas is a Permian-focused upstream operator producing oil, natural gas, and NGLs, with a similar size and asset strategy—directly comparable to PrimeEnergy in core operating area and product mix.
• Riley Exploration Permian: Riley Exploration Permian is a small-cap Permian Basin E&P focused on conventional and unconventional oil and gas development; closely comparable to PrimeEnergy in size, basin focus, and asset profile.
• Apache Corporation: Apache is a Permian-focused E&P and the named joint-venture partner on PrimeEnergy's June 2026 drilling project; directly comparable in basin exposure, commodity mix, and operating model.
• Northern Oil and Gas: Northern Oil and Gas is a non-operated working-interest focused E&P with significant Permian Basin exposure; comparable to PrimeEnergy in its mix of operated and non-operated Permian production.

Broad incumbents

• Murphy Oil: Murphy Oil is a diversified, larger-scale E&P with onshore and offshore operations; broader geographic and product diversification makes it a useful incumbent benchmark while still operating in the same upstream oil and gas category.
• Civitas Resources: Civitas Resources is a large-scale US onshore E&P producing crude, natural gas, and NGLs primarily from the Rockies; broader incumbent in the same domestic upstream category with comparable commodity mix.

Regional players

• Vermilion Energy: Vermilion Energy is a Canada-based international E&P producing oil, natural gas, and NGLs across multiple jurisdictions; relevant international benchmark for PrimeEnergy's upstream product mix, though operating predominantly outside the US.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PrimeEnergy