Page 1

PrimeEnergy Resources Corporation Announces Second Quarter Results HOUSTON - PrimeEnergy Resources Corporation ( NASDAQ : PNRG ) announced today the following unaudited results for the periods ended June 30 , 2021 and 2020 : Revenues .. Net Loss Three Months Ended June Six Months Ended June 30 , 30 , 2021 2020 2021 2020 $ 13,663,000 $ 7,278,000 $ 28,635,000 $ 33,386,000 Earnings per Common Share : $ ( 2,403,000 ) $ ( 6,266,000 ) $ ( 3,858,000 ) $ ( 6,436,000 ) Basic ...... $ ( 1.20 ) $ ( 3.14 ) $ ( 1.93 ) $ ( 3.23 ) Shares Used in Calculation of : Basic EPS .. 1,994,177 1,994,177 1,994,177 1,994,675 Total assets at June 30 , 2021 were $ 198,505,000 compared to $ 200,484,000 at December 31 , 2020 . Oil and gas production and the average prices received ( excluding gains and losses from derivatives ) for the three and six months ended June 30 , 2021 and 2020 were as follows : Three Months Ended June 30 , Six Months Ended June 30 , 2021 2020 Increase / ( Decrease ) 2021 2020 Increase / ( Decrease ) Barrels of Oil Produced . Average Price 165,000 144,000 21,000 328,000 378,000 ( 50,000 ) Received .. $ 64.63 $ 25.09 $ 39.54 $ 60.77 $ 37.89 $ 22.88 Oil Revenue Mcf of Gas Sold .. $ 10,664,000 $ 3,613,000 $ 7,051,000 $ 19,934,000 $ 14,324,000 $ 5,610,000 780,000 874,000 ( 94,000 ) 1,445,000 1,812,000 ( 367,000 ) Average Price Received .. $ 2.94 $ 0.62 $ 2.32 $ 2.73 $ 0.77 $ 1.96 Gas Revenue Barrels of Natural Gas Liquids Sold $ 2,292,000 $ 543,000 $ 1,749,000 $ 3,950,000 $ 1,389,000 $ 2,561,000 109,000 Average Price Received $ 22.06 56,000 53,000 $ 5.76 $ 16.30 Natural Gas Liquids Revenue Total Oil & Gas Revenues 195,000 213,000 ( 18,000 ) $ 21.28 $ 13.12 $ 8.16 $ 2,404,000 $ 495,000 $ 1,909,000 $ 4,149,000 $ 1,738,000 $ 2,411.000 $ 15,360,000 $ 4,651,000 $ 10,709,000 $ 28,033,000 $ 17,451,000 $ 10,582,000 PrimeEnergy is an independent oil and natural gas company actively engaged in acquiring , developing and producing oil and natural gas , and providing oilfield services , primarily in Texas and Oklahoma . The Company's common stock is traded on the Nasdaq Stock Market under the symbol PNRG . If you have any questions on this release , please contact Connie Ng at ( 713 ) 735-0000 ext 6416 .