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PrimeEnergy Moves To 3Q Loss As Gas Prices Fall

STAMFORD, Conn. (AP) ¿ PrimeEnergy Corp. on Friday moved to a loss in the third quarter as oil and gas prices fell, dragging results down.

The company, based in Stamford, Conn., lost $2.3 million, or 76 cents per share, in the quarter that ended Sept. 30. That is compared with a profit of $2.1 million, or 54 cents per share, a year earlier.

Revenue fell 45 percent to $23.3 million from $42.4 million.

The oil and gas company said gas revenue dropped 62 percent to $7.3 million from $19.5 million.

It shares closed unchanged Friday at $33.73.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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