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PrimeEnergy posts solid Q2 results, expands drilling and buyback program

Aug 14, 2026, 2:31 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Strong oil pricing backdrop and meaningful buyback activity improve per-share value; lack of debt enhances financial flexibility; upcoming production in Q4 2026 provides a tangible near-term catalyst, though gas price weakness remains a risk.

AI summary

What happened, with direct paths to the underlying reporting

PrimeEnergy reported Q2 2026 net income of $6.5 million as oil prices averaged $98.85 per barrel, offset by a negative $3.53 per Mcf natural gas price that produced $9.2 million of negative gas revenue. The company finished June with $28.7 million in cash and no debt while launching 24 horizontal wells in the Midland-adjacent Martin/Upton programs, with first production expected in Q4 2026. A continued share-repurchase program and a $105 million borrowing base underline liquidity.

Q2 2026 net income $6.5m; basic EPS $4.06.
Oil price realized $98.85/bbl; natural gas price negative $3.53/Mcf.
Drilling commenced on 24 horizontal wells; first production expected Q4 2026.
Cash $28.7m, no debt; board authorized 300k additional share repurchases.

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