Quarterly ResultMay 6, 2026, 04:15 PM
Permian Resources Q1 Results Strong, Raises Full Year Guidance
AI Summary
Permian Resources Corporation announced strong first quarter 2026 financial and operational results, reporting total average production of 412.9 MBoe/d and adjusted free cash flow of $513 million. The company also increased its full-year 2026 oil production guidance and achieved investment grade credit ratings from S&P and Moody's, further strengthening its balance sheet by reducing total debt by $1.2 billion since year-end 2024. Additionally, Permian Resources completed the simplification of its corporate structure to a traditional C-Corp and declared a quarterly base dividend of $0.16 per share.
Key Highlights
- Reported Q1 total average production of 412.9 MBoe/d, including 192.3 MBbls/d of oil.
- Achieved Q1 adjusted free cash flow of $513 million and cash capital expenditures of $466 million.
- Reduced D&C costs to ~$685 per lateral foot, a 6% reduction compared to 2025.
- Increased full-year oil production guidance mid-point by 3.5 MBbls/d to 192.5 MBbls/d.
- Received investment grade credit ratings from S&P (BBB-) and Moody's (Baa3).
- Reduced total debt by approximately $1.2 billion since year-end 2024.
- Completed simplification of corporate structure to a traditional C-Corp with a single share class.
- Declared a quarterly base dividend of $0.16 per share.