Welcome to our dedicated page for Permian Resources news (Ticker: PR), a resource for investors and traders seeking the latest updates and insights on Permian Resources stock.
Permian Resources Corp (PR) maintains this comprehensive news hub for investors and industry observers tracking developments in the Permian Basin energy sector. Access all official press releases and verified news updates from this independent oil and natural gas producer, including operational milestones, financial reports, and strategic initiatives.
Our curated collection provides essential insights into PR's core activities: asset acquisitions, drilling efficiency improvements, and financial performance within North America's most productive oil region. Monitor updates on production enhancements, environmental initiatives, and leadership decisions that shape the company's position in the competitive energy market.
Key content categories include quarterly earnings announcements, merger and acquisition disclosures, operational updates from West Texas and New Mexico fields, and technical innovations in hydrocarbon extraction. This centralized resource eliminates the need to search multiple platforms for verified information about PR's activities.
Bookmark this page for direct access to Permian Resources' latest corporate communications. Check regularly for updates that could impact your understanding of the company's performance in the dynamic oil and gas sector.
Permian Resources (NYSE: PR) has announced its upcoming second quarter 2024 earnings conference call. The company will release its financial and operating results after market close on Tuesday, August 6, 2024. Management will host an earnings conference call the following day, Wednesday, August 7, 2024, at 9:00 a.m. Central (10:00 a.m. Eastern).
Interested parties can participate in the call by dialing (800) 267-6316 (Conference ID: PRCQ224) or via the internet at www.permianres.com. A replay of the call will be available on the Company's website or by phone at (800) 925-9354 (Passcode: 24995) for 14 days following the call.
Permian Resources (NYSE: PR) announced the extension of a registration rights agreement with its Private Equity Stockholders, including EnCap Investments, Pearl Energy, and Riverstone Investment Group. The company has reduced sponsor ownership from over 50% in 2022 to approximately 16% today. Additionally, Pearl Energy will distribute around 23 million shares of Class A common stock to its equity holders. Currently, no investor owns more than 7%, and only Pearl holds a board seat. Permian's management team holds about 7% of total shares, with long-term equity constituting 100% of the Co-CEO’s compensation.
Permian Resources (NYSE: PR) has completed the liquidation of Lynden Energy Corp., a Canadian subsidiary, as part of its post-merger integration with Earthstone Energy.
The company has applied to the British Columbia Securities Commission (BCSC) and the Ontario Securities Commission (OSC) for an order to cease being a reporting issuer in Canada.
This move aims to simplify Permian Resources' corporate structure and reduce tax obligations, with no impact on previously announced financial and operational results. Permian Resources will continue to report under U.S. securities laws and NYSE rules.
Permian Resources announced the pricing of a secondary public offering of 51,765,000 shares of Class A Common Stock at $16.47 per share by certain affiliates. The Company will not receive any proceeds from the offering. Concurrently, the Company will purchase 1,800,000 common units from certain Selling Stockholders. The offering is expected to close on May 15, 2024, and is being underwritten by Goldman Sachs & Co.
Permian Resources announced a secondary public offering of 51,765,000 shares of Class A Common Stock by certain affiliates. The company will not receive any proceeds from the offering. Concurrently, the company intends to purchase 1,800,000 common units at a set price.
Permian Resources (NYSE: PR) announced strong first quarter 2024 results, delivering its best quarter to-date with robust free cash flow and increased annual synergy targets. The company reported production outperformance, operational efficiencies, and additional bolt-on acquisitions, leading to a 2% increase in full-year production guidance. Permian Resources generated $324 million of adjusted free cash flow, executed $270 million of acquisitions, and added 11,200 net acres in the Delaware Basin. The integration of Earthstone acquisition is complete, surpassing synergy targets and increasing annual synergy target to $225 million. Permian Resources also announced an increase in quarterly dividends and shareholder returns. The company's financial position remains strong, with low leverage and increased liquidity. Permian Resources maintained a strong financial position with $13 million in cash and a $4.0 billion borrowing base.
Permian Resources (NYSE: PR) declared a quarterly base cash dividend of $0.06 per share of Class A common stock, and a quarterly variable cash dividend of $0.14 per share, totaling $0.20 per share annually. The dividends will be payable on May 29, 2024, to shareholders of record as of May 21, 2024.
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