Permian Resources is a leading exploration and production (E&P) company focused on the Delaware Basin, which spans parts of Texas and New Mexico.
Who is Permian Resources?
Permian Resources Q1/2024 Results – reduced the average spud-to-rig release days by 18% – record production
The company achieved an 11% increase in average daily crude oil production to 151,794 barrels and a total average production of 319,514 barrels of oil equivalent per day. Financially, Permian Resources generated $648 million in net cash from operating activities and $324 million in adjusted free cash flow.
Permian Resources to lean on New Mexico to reach 6% oil growth target
The leaders of Permian said Feb. 28 they will dedicate 70% of the company’s roughly $2 billion in planned capital spending to the Northern Delaware basin while the Southern Delaware basin in Texas will get about a quarter of those resources.
Permian Resources Announces Strong Fourth Quarter 2023 Results and Provides Highly Capital Efficient Full Year 2024 Plan
Permian Resources anticipates that approximately 70% of its operating activity will be directed towards the Northern Delaware Basin and approximately 25% towards the Southern Delaware Basin, with the remaining portion to be allocated to its Midland Basin position.
Permian Resources Announces Q3 2023 Results
Permian Resources delivered an outstanding operational and financial quarter, with the combination of strong well performance, decreases in controllable cash costs and continued quarter-over-quarter improvements in our drilling and completions efficiencies driving significantly higher free cash flow per share,” said Will Hickey, Co-CEO of Permian Resources.
Permian Resources to Acquire Earthstone Energy in All-Stock Transaction, Creating a $14 Billion Premier Delaware Basin Independent E&P
Texas–Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) and Earthstone Energy, Inc. (“Earthstone Energy” or “Earthstone”) (NYSE: ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt.
Permian Resources Announces Q2 2023 Results
Permian Resources had a strong operational and financial quarter, driven by robust well results across both Texas and New Mexico.
Permian Resources 2023 Outlook
Permian Resources 2023 total capital budget of $1.25 to $1.45 billion and delivered fourth quarter oil production of 81.4 MBbls/d
Permian Resources Oil & Gas
Permian Resources ranks #15 in wells drilled in 2022 with 124 wells drilled in the Mid Continent of the US.
Headquartered in Midland, Texas, Permian Resources is the largest pure-play E&P company in the Delaware Basin. Permian Resources operated 7 drilling rigs and drilled 37 wells on Q1 2023.
Centennial Resource & Colgate Energy combination, establishing Permian Resources
Centennial Resource Development and Colgate Energy complete combination, establishing Permian Resources. Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. The Company’s operations are focused in the core of the Delaware Basin.
