Welcome to our dedicated page for Permian Resources Corporation news (Ticker: PR), a resource for investors and traders seeking the latest updates and insights on Permian Resources Corporation stock.
Permian Resources Corporation (symbol: PR) is an independent oil and natural gas company committed to delivering substantial returns to its stakeholders. Focused on the responsible acquisition, optimization, and development of oil and liquids-rich natural gas assets, the company plays a significant role in the energy sector.
Permian Resources Corp's operations are primarily concentrated in the core of the Permian Basin, one of the most prolific oil-producing regions in the United States. The company's properties consist of large, contiguous acreage blocks located in West Texas and New Mexico. This strategic positioning allows for efficient and cost-effective extraction of valuable resources.
With over 40,000 net acres and more than 1,350 drilling locations primarily in Reeves County, Permian Resources Corp is pursuing a growth strategy grounded in technical leadership, strong well results, attractive investment returns, and a conservative balance sheet.
In recent years, Permian Resources Corp has focused on several key projects aimed at enhancing production and optimizing resource extraction. These initiatives have led to improved operational efficiencies and increased output, positioning the company as a leader in the industry.
Headquartered in Denver, Colorado, Permian Resources Corp is committed to maintaining a strong financial position while delivering value to its stakeholders. The company's team of experienced professionals leverages technical expertise and innovative approaches to maximize the potential of its assets.
For more information about Permian Resources Corporation, please visit their website. If you are interested in a career with Permian Resources Corp, please submit your resume to centennialcareers@cdevinc.com.
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
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.
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.
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