Monitor Q4 2026 for first production from the 24 horizontal wells and any improvement in Permian natural gas pricing; the expanded buyback authorization provides downside support.
Price Chart
Executive Summary
PrimeEnergy reported Q2 2026 net income of $6.5M ($4.06/share), doubling from $3.2M ($1.94/share) in Q2 2025, driven by strong oil prices ($98.85/bbl vs $56.96/bbl) that offset negative natural gas revenue of $9.2M due to Permian Basin pipeline constraints. The company ended the quarter with $28.7M cash, no debt, and an expanded $105M credit facility, while continuing an aggressive share repurchase program (31,290 shares bought in Q2, 300,000 additional shares authorized).
Key Financial Metrics
Key Facts
- Q2 2026 net income $6.5M ($4.06/share) vs $3.2M ($1.94/share) in Q2 2025
- Average realized oil price $98.85/bbl vs $56.96/bbl in Q2 2025
- Negative natural gas revenue of $9.2M due to -$3.53/Mcf realized price
- Cash $28.7M, zero bank debt, $105M credit facility available
- Repurchased 31,290 shares for ~$5.5M in Q2; 300,000 additional shares authorized
- Drilling commenced on 24 horizontal wells in Martin/Upton Counties; first production expected Q4 2026
- 2026 capital budget ~$52M for 28 horizontal wells; cumulative $261M from 2024-2026
Financial Impact
Net income doubled YoY to $6.5M; oil revenue $40.6M offsetting $9.2M negative natural gas revenue; cash increased from $7.4M to $28.7M
Risk Factors
- Negative natural gas prices in Permian Basin due to pipeline constraints could persist
- Oil price volatility (hedged 367,000 barrels at $74.84/bbl) could impact future cash flows
- Drilling and completion risks on 24 horizontal wells; first production not expected until Q4 2026
- Small market cap ($316M) and low analyst coverage (0% bullish consensus) increase volatility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3345569 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 4w ago | SC 13D/A | $208.67 | awaiting T+60 | — | $218.90 (+4.90%) |
Aug 14, 2026 10w ago | Press Release | $200.98 | awaiting T+60 | — | $218.90 (+8.92%) |
Jun 11, 2026 19w ago | Press Release | $190.66 $215.52 | ▲ +13.04% | ▲ +9.78% | $218.90 (+14.81%) |
May 20, 2026 22w ago | Press Release | $245.98 $200.98 | ▲ +18.29% | ▲ +23.30% | $218.90 (+11.01%) |
Apr 27, 2026 25w ago | Insider Cluster | $211.54 $187.20 | ▲ +11.51% | ▲ +15.60% | $218.90 (−3.48%) |
Apr 24, 2026 26w ago | Insider Cluster | $230.00 $189.86 | ▲ +17.45% | ▲ +22.53% | $218.90 (+4.83%) |
US Market Status
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