PrimeEnergy Resources Corporation (PNRG)

Overview

PrimeEnergy Resources Corporation operates in the energy sector, focusing specifically on the oil and gas industry within the United States. It is engaged in acquiring, developing, and producing oil and natural gas properties. The company has evolved through its history, initially known as PrimeEnergy Corporation before rebranding to PrimeEnergy Resources Corporation in December 2018. Founded in 1973 and with its headquarters located in Houston, Texas, the organization has established a significant presence in the energy industry. PrimeEnergy Resources Corporation maintains a diverse portfolio of oil and gas properties, including leasehold, mineral, and royalty interests both in producing and non-producing assets. It actively manages approximately 534 wells while also holding non-operating interests and royalties in an additional 952 wells. The company’s strategic operations and ventures position it as a comprehensive player in the oil and gas market.

Products and Services

• Acquisition, Development, and Production of Oil and Gas Properties

PrimeEnergy Resources Corporation specializes in the lifecycle management of oil and gas properties. This includes the strategic acquisition of valuable assets, the development of these properties to initiate or increase production, and the ongoing production operations to extract oil and natural gas. Their portfolio comprises both producing and non-producing oil and gas properties across the United States.

• Leasehold, Mineral, and Royalty Interests

The company owns interests in various forms such as leasehold interests, which give them the right to develop and produce oil and gas from the leased premises. They also possess mineral interests, providing ownership rights to the resources underground, and royalty interests, ensuring they receive a portion of the production revenue without bearing the production costs.

• Operational and Non-Operating Interests in Wells

PrimeEnergy Resources Corporation operates approximately 534 active wells, underscoring its role as a direct player in oil and gas production. Beyond its operational activities, it also holds non-operating interests and royalties in an additional 952 wells, capitalizing on passive income streams while minimizing operational risks and expenses.

• Joint Ventures and Industry Partnerships

The company engages in strategic joint ventures and alliances with industry partners to acquire producing oil and gas properties. These collaborative efforts allow for shared investment, risk, and expertise, leading to potentially more profitable and efficient operations.

• Contract Services to Third Parties

PrimeEnergy Resources Corporation extends its expertise to third parties through contract services. This includes a range of support services such as well-servicing, site-preparation, and construction services geared towards enhancing oil and gas drilling and reworking operations. Their capabilities in providing specialized services demonstrate their versatility and commitment to supporting the broader energy sector.