PrimeEnergy Posts Record Net Income Despite Gas Price Woes

PrimeEnergy Resources Corporation reported net income of $6.5 million for the second quarter and $10.9 million for the first six months of 2026, beating the same periods last year.

The increase in earnings was largely due to strong oil prices, which averaged $98.85 per barrel compared to $56.96 per barrel in the second quarter of 2025. However, negative natural gas prices in the Permian Basin resulted in a loss of over $9 million in revenue.

The company's Chairman and Chief Executive Officer, Charles E. Drimal, Jr., commented on the results, saying 'PrimeEnergy reported net income of $6.5 million during the second quarter despite an unusually severe natural gas pricing environment in the Permian Basin.'