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PrimeEnergy Q2 2026 results show strong oil upside and active buybacks

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

Why it may matterVerify against the original reporting

Quarterly profitability improved on stronger oil pricing, plus a debt-free balance sheet and ongoing buybacks. Liquidity and hedging (WTI swaps) mitigate downside risk; however, Permian gas pricing remains a headwind.

AI summary

What happened, with direct paths to the underlying reporting

PrimeEnergy reported Q2 2026 net income of $6.5M with oil at $98.85/BBL and gas at -$3.53/Mcf, causing $9.2M in negative gas revenue. The company ended with $28.7M cash, no debt, and raised the buyback pace, repurchasing 31,290 shares and authorizing 300k more. Development remains aggressive, drilling 24 horizontal wells with first production expected in Q4 2026.

Q2 2026 net income $6.5M; H1 2026 net income $10.9M.
Oil realized price $98.85/BBL. Gas price -$3.53/Mcf; $9.2M gas revenue loss.
Cash $28.7M; no outstanding debt; revolver base $105M available.
Drilling 24 horizontal wells; first production Q4 2026.
Repurchased 31,290 shares in Q2; board authorized additional 300k shares.

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