Permian Resources Announces Closing of Bolt-On Acquisition of Core Delaware Basin Assets

MIDLAND, Texas--(BUSINESS WIRE)-- Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the closing of its previously announced acquisition of certain leasehold and royalty interests and related midstream infrastructure from Occidental (NYSE: OXY). The acquired assets consist of ~29,500 net acres, ~9,900 net royalty acres and substantial midstream infrastructure primarily located offset the Company’s existing position in Reeves County, Texas.

About Permian Resources

Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. The Company’s assets and operations are concentrated in the core of the Delaware Basin, making it the second largest Permian Basin pure-play E&P. For more information, please visit www.permianres.com.

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Hays Mabry – Vice President, Investor Relations

(432) 315-0114

ir@permianres.com

Source: Permian Resources Corporation