PrimeEnergy Resources Corporation $(PNRG)$ has reported its first quarter 2025 results, showcasing a 16.4% increase in revenue year-over-year, reaching $50.1 million. This growth is attributed to a substantial rise in oil and gas production, with oil production up 6.0% to 457,000 barrels and natural gas production surging by 106.6% to 2.39 billion cubic feet. Additionally, NGL production saw a remarkable 120.4% growth, totaling 454,000 barrels. Despite the revenue growth, the company experienced a decline in net income, which fell by 19.3% to $9.1 million. The earnings per share $(EPS)$ also decreased by 15.7% to $3.72 compared to the same period in the previous year. PrimeEnergy continued its strategic share buyback program, repurchasing 47,970 shares at a cost of $9.17 million. Since the inception of this program, the company has returned a total of $112.6 million to shareholders through stock repurchases. As of May 19, 2025, the company's outstanding share count stood at 2,428,000, including vested options. The company's total assets increased to $339.3 million at the end of the quarter, up from $324.6 million on December 31, 2024. The company remains focused on the acquisition, development, and production of hydrocarbons, primarily in Texas.
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