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PrimeEnergy Corporation Announces Second Quarter Results

Stocks in this article: PNRG

PrimeEnergy Corporation (NASDAQ: PNRG) announced today the following unaudited results for the periods ended June 30, 2012 and 2011:

  Three Months Ended June 30,     Six Months Ended June 30,
    Increase /     Increase /
2012 2011 (Decrease) 2012 2011 (Decrease)
Revenues $ 37,426,000 $ 35,510,000 $ 1,916,000 $ 64,133,000 $ 54,281,000 $ 7,936,000
Net Income $ 7,423,000 $ 3,203,000 $ 4,220,000 $ 8,746,000 $ 821,000 $ 3,705,000
Earnings per Common Share:
Basic $ 2.81 $ 1.16 $ 1.65 $ 3.28 $ 0.30 $ 1.35
Diluted $ 2.20 $ 0.92 $ 1.28 $ 2.57 $ 0.23 $ 1.25
Shares Used in Calculation of:
Basic EPS 2,637,825 2,755,035 (117,210 ) 2,664,934 2,767,124 (102,190 )
Diluted EPS 3,371,904 3,491,774 (119,870 ) 3,398,199 3,501,793 (103,596 )

Total assets at June 30, 2012 were $212,299,000 compared to $184,812,000 at December 31, 2011.

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