Permian Resources Corp - PR STOCK NEWS

Permian Resources to acquire Earthstone Energy in a $4.5 billion all-stock transaction, strengthening its position in the Delaware Basin and increasing production to 300,000 Boe/d. Expected to be accretive to free cash flow per share by >30% per year in the next two years. Transaction is expected to drive $175 million in annual cash flow improvements and support a 20% increase in base dividend per share. The acquisition represents an 8% premium to the exchange ratio based on the 20-day volume weighted average share prices.

Permian Resources Corporation will release its second quarter 2023 financial and operating results on August 2, 2023. The earnings conference call will take place on August 3, 2023. Interested parties can participate by dialing (888) 886-7786 or accessing the internet at www.permianres.com.

Permian Resources Corporation (NYSE: PR) announced its first quarter 2023 financial and operational results. The company delivered total production of 153.8 MBoe/d, in-line with guidance, and reported net cash provided by operating activities of $438 million. They also announced a quarterly base dividend of $0.05 per share and initiated an inaugural variable dividend of $0.05 per share. Permian Resources closed a bolt-on acquisition in Lea County and a midstream infrastructure divestiture in Reeves County.

Permian Resources Corporation (NYSE: PR) will report its first quarter 2023 financial results on May 8, 2023, after market close. An earnings conference call is scheduled for May 9, 2023, at 9:00 a.m. Central (10:00 a.m. Eastern). Interested participants can dial (888) 396-8049 with Conference ID: 92425142 or join online at www.permianres.com. A replay will be available for 14 days post-call.

Based in Midland, Texas, Permian Resources focuses on acquiring and developing oil and natural gas properties in the Delaware Basin. The company emphasizes responsible operations and aims for high returns on its investments.

On March 10, 2023, Permian Resources (NYSE: PR) completed a successful secondary public offering totaling $302,500,000, co-managed by Pickering Energy Partners (PEP). This offering demonstrates investor confidence in Permian Resources and aligns with the company's strategic funding objectives. Pickering Energy Partners, headquartered in Houston, Texas, specializes in energy-focused financial services and has a track record of over $16 billion deployed across various energy sectors. The completion of this offering positions Permian Resources for potential future growth and investment opportunities.

Permian Resources Corporation (NYSE: PR) has initiated an underwritten public offering of 27,500,000 shares of its Class A common stock by affiliates of NGP Energy Capital and Riverstone Investment Group. The company will not receive proceeds from this offering. Notably, the selling stockholders plan to offer an additional 4,125,000 shares through a 30-day option. Concurrently, Permian Resources intends to purchase 2,750,000 OpCo Units from NGP Stockholders, which is conditional upon the completion of the offering. J.P. Morgan and Citigroup are managing the offering, which is subject to market conditions.