Permian Resources Corporation
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.Company Description
- CEO
- William Hickey
- Full Time Employees
- 515
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 300 N. Marienfeld Street Midland TX United States of America 79701
- IPO Date
- Apr 15, 2016
- CIK
- 0001658566
- Website
- permianres.com
- Similar Companies
- Business
- Permian Resources Corporation Permian Resources Corporation (NYSE: PR) is an independent exploration and production company focused on the acquisition, optimization, and development of high-return oil and liquids-rich natural gas properties in the Permian Basin of West Texas and southeast New Mexico. Headquartered in Midland, Texas, and founded in 2015, the company operates approximately 475,000 net leasehold acres, primarily concentrated in the core of the Delaware Basin across Eddy and Lea Counties, New Mexico, and Reeves and Ward Counties, Texas, making it the second-largest pure-play E&P operator in the region. Its core activities encompass the exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs) through advanced horizontal drilling and hydraulic fracturing techniques on shale formations; it maintains a portfolio of long-life inventory with low breakeven costs, averaging around $30 per barrel WTI for near-term development locations, while emphasizing operational efficiency, cost control, and environmental stewardship. Permian Resources Corporation targets energy sector customers by supplying hydrocarbons essential for transportation, manufacturing, power generation, and global energy demands. In recent developments, the company completed a $608 million bolt-on acquisition from APA Corporation APA Corporation in June 2025, adding 13,320 net acres, 8,700 net royalty acres, and approximately 12,000 Boe/d of production (45% oil) in core New Mexico areas, enhancing operated inventory, working interests in over 100 locations, and non-operated positions for strategic trades; it also reported record adjusted free cash flow of $460 million in Q1 2025, reduced full-year capital expenditures by $50 million mid-point to $1.95 billion while maintaining production guidance, repurchased 4.1 million shares at $10.52 average in April 2025, and declared a quarterly base dividend of $0.15 per share, reflecting a 5% annualized yield and commitment to shareholder returns amid disciplined capital allocation. Originally formed from the September 2022 merger of Centennial Resource Development and Colgate Energy, with a name change to Permian Resources Corporation that month, the company sustains a fortress balance sheet with net debt-to-EBITDAX below 1x, over $3 billion in liquidity, and a hedging strategy covering 25% of oil production.
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