Permian Resources reports Q4 EPS 26c, consensus 45c

Reports Q4 revenue $761.6M, consensus $739.7M. Average daily crude oil production for the fourth quarter was 81,378 barrels of oil per day, and total production during the quarter averaged 158,208 barrels of oil equivalent per day. "Permian Resources’ outstanding fourth quarter results reflect a continuation of our strong operational track record," said Will Hickey, Co-CEO of Permian Resources. "In our first full quarter post-merger, our team delivered strong financial and operational results driven by well outperformance and continued cost discipline." "Our team has worked diligently to build an optimized 2023 plan that maximizes capital efficiency and leads to higher oil production and lower cash costs, accomplishing our ultimate goal of driving more free cash flow and higher returns for our investors," said James Walter, Co-CEO of the Company. "We believe Permian Resources represents a unique value proposition for investors, with the benefits of scaled operations in the Delaware Basin combined with a nimble and creative approach to value creation, as exemplified by our recent portfolio optimization efforts."