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 Corporation (NYSE: PR) is an independent oil and natural gas company headquartered in Midland, Texas, with operations concentrated in the Permian Basin and a focus on the core of the Delaware Basin in West Texas and Southeast New Mexico. This news page aggregates company-issued updates and market-moving announcements related to Permian Resources’ exploration and production activities, corporate structure and financing.
Recent press releases highlight operational results, including quarterly production updates, capital expenditures, cost metrics and guidance revisions. The company regularly reports on drilling and completion performance, lease operating expenses and marketing arrangements designed to improve netbacks on oil, NGL and natural gas sales. These operational updates provide insight into how Permian Resources is developing its acreage position and managing costs within the Delaware Basin.
Investors following PR news will also see announcements on capital allocation decisions, such as base cash dividends on Class A common stock, share repurchases under an authorized program and the use of debt reduction alongside acquisitions. The company has communicated on bolt-on acquisitions within its core footprint, grassroots leasing and larger transactions that expand its position in New Mexico and Texas.
Corporate and capital markets developments are another key theme in Permian Resources’ news flow. The company has announced secondary offerings by existing shareholders, changes to its credit facilities, redemption of exchangeable senior notes and a corporate reorganization that transitions to a new public holding company while maintaining trading under the PR ticker. For readers tracking the crude petroleum and natural gas extraction sector, this page offers a centralized view of Permian Resources’ official news and disclosures over time.
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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