Permian Resources is a leading exploration and production (E&P) company focused on the Delaware Basin, which spans parts of Texas and New Mexico.
Oil & Gas Data Download
Permian Resources Wells Drilled Since 2023
Here are some key points about the company from the Q1 2024 Earnings Presentation:
- Company Overview:
- Permian Resources is the largest pure-play Delaware Basin E&P company, with over 400,000 net acres and approximately 75,000 net royalty acres. They are projected to produce around 320 MBoe/d (thousand barrels of oil equivalent per day) in FY 2024(PR-1Q24-Earnings-Presen…).
- Operations and Strategy:
- The company emphasizes high-quality asset management and capital-efficient development plans. They have a significant focus on continuous portfolio optimization to drive shareholder value, supported by a deep inventory that ensures long-term free cash flow and sustainable returns(PR-1Q24-Earnings-Presen…).
- Permian Resources is committed to financial discipline, maintaining a strong balance sheet, and executing a return of capital program. They aim to return more than 50% of their free cash flow to shareholders(PR-1Q24-Earnings-Presen…).
- Recent Performance and Acquisitions:
- Q1 2024 was noted as their best quarter to date, with production outperformance driven by the integration of Earthstone’s assets and operational efficiencies. They have completed multiple bolt-on acquisitions and grassroots transactions to strengthen their core positions in the Delaware Basin(PR-1Q24-Earnings-Presen…).
- Environmental and Social Governance (ESG):
- Permian Resources places a strong emphasis on ESG, including initiatives to reduce greenhouse gas emissions, minimize surface disturbance, and recycle water. They also have a diverse workforce and strong shareholder alignment, with a significant portion of management’s compensation tied to performance stock units(PR-1Q24-Earnings-Presen…).
Overall, Permian Resources is positioned as a financially disciplined, operationally efficient company with a strong focus on ESG principles and significant growth potential in the Delaware Basin.
