PRIMEENERGY RESOURCES CORP Segments Disclosure
9. Segment Information and Major Customers
The Company operates in one industry – oil and gas exploration, development, operation and servicing. The Company’s oil and gas activities are entirely in the United States. The Company sells its oil and natural gas and liquids production to a number of direct purchasers under direct contracts or through other operators under joint operating agreements. Listed below are the purchasers of the Company’s production which represented more than 10% of the Company’s sales for the years ended 2025 and 2024.
Net income (loss) before income taxes is the measure reported to the chief operating decision maker (CODM) for purposes of making decisions about allocating resources and assessing performance. This measure allows our management to effectively evaluate our operating performance and compare the results between periods. The CODM is our Chief Executive Officer.
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2025 |
2024 |
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Oil: |
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DE Central Operating, LLC. |
53 | % | 44 | % | ||||
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Civitas Resources Inc. |
12 | % | 20 | % | ||||
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APA Corporation. |
18 | % | 12 | % | ||||
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Natural gas and liquids: |
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DE Central Operating, LLC. |
40 | % | 30 | % | ||||
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Civitas Resources Inc. |
26 | % | 22 | % | ||||
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APA Corporation. |
15 | % | 19 | % | ||||
Although there are no long-term oil and gas purchasing agreements with these purchasers, the Company believes that they will continue to purchase its oil and gas products and, if not, could be replaced by other purchasers.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 16, 2026 | Showing above |
| 2024 | Apr 15, 2025 | |
| 2023 | Apr 15, 2024 | |
| 2022 | Apr 17, 2023 | |
| 2021 | Apr 21, 2022 | |
| 2020 | Apr 26, 2021 | |
| 2019 | May 6, 2020 | |
| 2018 | Apr 16, 2019 | |
| 2017 | Apr 17, 2018 | |
| 2016 | Apr 18, 2017 | |
| 2015 | Apr 8, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.