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 reports news on its independent oil and natural gas exploration and production business in the Permian Basin, with operations concentrated in the Delaware Basin of West Texas and Southeast New Mexico. Company updates commonly cover quarterly operating results, production economics, realized commodity prices, natural gas transportation and hedging, capital spending plans, acquisition activity, and development of oil and liquids-rich natural gas properties.
Recurring announcements also address shareholder capital returns through base cash dividends, balance sheet and credit-rating developments, and corporate-structure simplification related to its Up-C structure and Class A and Class C common stock. The company’s news flow is centered on drilling inventory, cost efficiency, free cash flow generation, and capital allocation within a Permian-focused E&P model.
Permian Resources Corporation (NYSE: PR) reported robust fourth quarter and full year 2022 financial results, achieving oil production of 81.4 MBbls/d, surpassing expectations by 9%. The Company generated net cash provided by operating activities of $528 million and adjusted free cash flow of $256 million. For 2023, Permian Resources increased its oil production guidance by 4% and total production by 3%, anticipating 10% growth in Q4 2023. The capital budget is set at $1.25 to $1.45 billion, with efforts to lower cash costs to $7.60 per Boe. A quarterly dividend of $0.05 per share was declared, representing an annualized yield of 2.1%.
Permian Resources Corporation (NYSE: PR) has declared a quarterly cash dividend of $0.05 per share of Class A common stock, translating to $0.20 annually. This dividend will be paid on March 15, 2023, to shareholders of record as of March 7, 2023. Permian Resources, based in Midland, Texas, is focused on the acquisition and development of high-return oil and natural gas properties, primarily in the Delaware Basin.
Permian Resources Corporation (NYSE: PR) will announce its fourth quarter and full year 2022 financial and operational results on February 22, 2023, after market close. An earnings conference call will follow on February 23, 2023, at 8:00 a.m. Central (9:00 a.m. Eastern), accessible via phone or online at www.permianres.com. The company focuses on responsible acquisition and development of oil and natural gas properties in the Delaware Basin.
Permian Resources Corporation (NYSE: PR) announced several key portfolio management transactions, including a bolt-on acquisition and divestitures. The acquisition involves 4,000 net acres and 3,300 net royalty acres in Lea County, New Mexico, for $98 million, adding 45 top-quartile locations. Divestitures include producing non-operated properties in Reeves County for $60 million and saltwater disposal wells for $125 million. The company anticipates $100 million in net cash proceeds from these transactions, which aim to enhance shareholder value and maintain its preliminary outlook for 2023.
Permian Resources Corporation (NYSE: PR) has announced significant leadership changes, including the retirement of Executive Chairman Sean Smith and CFO George Glyphis. Effective December 31, 2022, Steve Gray will take over as non-executive Chairman, while Guy Oliphint, with extensive experience in the energy sector, will succeed Glyphis as CFO on March 1, 2023. The management transition aims to maintain operational excellence and strategic direction, ensuring continued value creation for shareholders after a successful integration post-merger.
Permian Resources Corporation (NYSE: PR) announced its third quarter 2022 results, showcasing robust financial performance after the merger with Centennial Resource Development and Colgate Energy. Net cash from operations reached $388 million with $159 million in adjusted free cash flow. The company declared an inaugural quarterly dividend of $0.05 per share, representing a yield of 1.8%. Average daily crude oil production surged to 48,499 Bbls/d, significantly up from 33,529 Bbls/d year-over-year, reflecting operational success.
Permian Resources Corporation (NYSE: PR) announced a quarterly cash dividend of $0.05 per share, equating to $0.20 annually. This dividend is payable on November 29, 2022 to shareholders recorded by November 21, 2022. The company is dedicated to the efficient acquisition and development of oil and natural gas in the Delaware Basin, focusing on high-return properties.