PrimeEnergy Resources is a small independent oil and gas company focused on acquiring, developing, and producing oil, natural gas, and NGLs, primarily in the Permian Basin's Midland Basin and, to a lesser extent, Oklahoma's Scoop/Stack play. PrimeEnergy operates largely as a non-operating working interest partner — contributing a proportional share of drilling and completion costs alongside operators like Double Eagle, Civitas, and Apache, then receiving a matching share of production revenue. This model gives PrimeEnergy exposure to high-quality Permian Basin acreage without bearing full operational responsibility, though it also means PrimeEnergy has limited control over drilling timing, costs, and operational decisions. The company holds roughly 9,420 net acres in the Midland Basin targeting the Wolfcamp and Spraberry formations, and has invested over $435M in horizontal drilling there since 2012. PrimeEnergy also directly operates 508 of its own wells through its subsidiaries Prime Operating Company and EOWS Midland Company, which provide well-servicing to both PrimeEnergy's own wells and third parties for fee income. Revenue is driven primarily by production volumes and commodity prices, and PrimeEnergy uses a hedging program to manage downside price risk. Growth is primarily organic — drilling on existing West Texas acreage — supplemented by opportunistic acquisitions of producing properties where PrimeEnergy can assume operatorship.