Permian Resources Corporation ( (PR) ) has released its Q1 earnings. Here is a breakdown of the information Permian Resources Corporation presented to its investors.
Permian Resources Corporation is an independent oil and natural gas company focused on acquiring, optimizing, and developing high-return oil and natural gas properties in the Permian Basin, primarily in the Delaware Basin of West Texas and Southeast New Mexico.
In its first quarter of 2025, Permian Resources reported strong financial and operational results, including record adjusted free cash flow and a strategic acquisition in the Northern Delaware Basin. The company also revised its full-year guidance and announced a bolt-on acquisition of core assets.
Key financial highlights include a crude oil production of 175.0 MBbls/d and total average production of 373.2 MBoe/d. The company achieved a record adjusted free cash flow of $460 million and maintained a strong balance sheet with $702 million in cash and $3.2 billion in total liquidity. Additionally, Permian Resources completed a non-core asset divestiture for $180 million and repurchased 4.1 million shares.
Strategically, Permian Resources acquired 13,320 net acres and 8,700 net royalty acres in the Northern Delaware Basin for $608 million, enhancing its production capabilities and inventory. The acquisition is expected to add significant value and is accretive to key per-share metrics, with a low breakeven cost of $30 per barrel WTI.
Looking ahead, Permian Resources remains focused on maintaining its strong financial position and leveraging its cost leadership to maximize shareholder returns. The company plans to continue its strategic acquisitions and operational optimizations to drive long-term value in a volatile commodity price environment.