PrimeEnergy Corporation is engaged in the oil and gas business through the acquisition, exploration, development, and production of crude oil and natural gas. The Company’s properties are located primarily in Texas, Oklahoma, West Virginia, the Gulf of Mexico, New Mexico, Colorado and Louisiana. The Company, through its subsidiaries Prime Operating Company, Southwest Oilfield Construction Company, Eastern Oil Well Service Company and EOWS Midland Company, acts as operator and provides well servicing support operations for many of the onshore oil and gas wells, in which the Company has an interest, as well as for third parties. The Company is also active in the acquisition of producing oil and gas properties through joint ventures with industry partners. In July 2010, the Company entered into a joint development agreement with a Korean consortium to develop oil properties in West Texas.