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PrimeEnergy Resources Swings To Q1 Profit

PrimeEnergy Resources Corporation (PNRG) Friday reported first-quarter net income of $11.1 million or $4.07 per shared, compared to net loss of $1.46 million or $0.73 per share last year.

Revenues for the quarter were $26.2 million, a surge from $13.0 million last year.

The company's barrel of oil produced rose 67% to 273 thousand from 163 thousand. Average price received surged nearly 70% to $96.36 from $56.87 last year.

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