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PrimeEnergy Corporation Announces Third Quarter Results

November 16, 2018

HOUSTON--(BUSINESS WIRE)--Nov 16, 2018--PrimeEnergy Corporation (NASDAQ:PNRG) announced today the following unaudited results for the periods ended September 30, 2018 and 2017:

The following table summarizes the primary components of production volumes and average sales prices realized for the three and nine months ended September 30, 2018 and 2017 (excluding realized gains and losses from derivatives).

The following table summarizes revenue, net income and earnings per year for the three and nine months ended September 30, 2018 and 2017.

Total assets at September 30, 2018 were $248,203,000 compared to $246,765,000 at December 31, 2017.

PrimeEnergy is an independent oil and gas company actively engaged in acquiring, developing and producing oil and gas, and providing oilfield services, primarily in Texas, Oklahoma and West Virginia. 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.

This Report contains forward-looking statements that are based on management’s current expectations, estimates and projections. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes”, “projects” and “estimates,” and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company’s oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company’s ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181116005548/en/

CONTACT: PrimeEnergy Corporation

Connie Ng, 713-735-0000 ext 6416

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: ENERGY OIL/GAS

SOURCE: PrimeEnergy Corporation

Copyright Business Wire 2018.

PUB: 11/16/2018 06:25 PM/DISC: 11/16/2018 06:25 PM

http://www.businesswire.com/news/home/20181116005548/en

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