PrimeEnergy reports 2Q loss

Houston’s PrimeEnergy Corporation, a firm that focuses its energy efforts primarily in Oklahoma, Texas and West Virginia announced second quarter financial results this week, showing an increase in revenues but a loss of $560,000.

The loss compared to a profit a year earlier. On a per-share basis, the company said the loss was 27 cents.

Its revenues totaled $22.4  million for the quarter compared to $21.5 million for the second quarter of 2017.

PrimeEnergy shares have risen 48 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $76, an increase of 60 percent in the last 12 months.

Oil production was up for the quarter, reaching 261,000 barrels compared to 226,000 in the second quarter of last year.