| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.4K | 0.8% |
| Total Income | 1.4K | 0.8% |
| Expenditure | 920.90 | 5.6% |
| PBT | 63.88 | 87.0% |
| Net Profit | 43.62 | 86.8% |
| OPM | 33.66% | 2.99pp |
| NPM | 3.14% | 20.78pp |
| EPS | 0.05 | 89.4% |
Permian Resources Announces Strong Q1 2026 Results and Increased Guidance
07 May 2026 · 7 May, 1:45 am
Summary
Permian Resources Corporation announced its first quarter 2026 financial and operational results, highlighting strong production and cost management. Total average production reached 412.9 MBoe/d, including 192.3 MBbls/d of oil. The company's drilling and completion costs decreased to approximately $685 per lateral foot, a 6% reduction compared to 2025. Based on these results, Permian Resources increased its full year 2026 oil production target by 3.5 MBbls/d to 192.5 MBbls/d at the mid-point of guidance.
Key Highlights
- 1
Permian Resources reported total average production of 412.9 MBoe/d, which includes 192.3 MBbls/d of oil for the first quarter of 2026.
- 2
The company announced cash capital expenditures of $466 million and adjusted free cash flow of $513 million for the first quarter.
- 3
Drilling and completion costs were reduced to approximately $685 per lateral foot, representing a 6% reduction compared to 2025.
- 4
The company increased the mid-point of full year guidance for oil production by 3.5 MBbls/d to 192.5 MBbls/d.
- 5
Permian Resources received investment grade credit ratings from S&P and Moody’s and maintained a strong balance sheet with leverage of approximately 0.8x.
- 6
A quarterly base dividend of $0.16 per share was declared by the company.
- 7
The company successfully accelerated first quarter crude oil production and anticipates a modest acceleration of production and capital in the second quarter.
Management Comments
Will Hickey
“We delivered a strong first quarter across the board, with record-low D&C costs per foot, 2% oil production growth quarter-over-quarter and more than $500 million of free cash flow,” said Will Hickey, Co-CEO of Permian Resources. “This performance highlights our ability to drive higher production and free cash flow per share, while continuing to lower costs.” “Today, our team is responding quickly to the current environment to increase oil production and free cash flow. Going forward, Permian Resources maintains maximum operational flexibility and will continue to swiftly react to the changing macro environment,” said Will Hickey, Co-CEO. "I would like to thank our operations team for their hard work and dedication to execute a plan that maximizes shareholder value in a period of significant volatility."
James Walter
“Since inception, Permian Resources has generated consistent free cash flow per share growth throughout cycles,” said James Walter, Co-CEO of Permian Resources. “This has been driven by a combination of lowering costs, executing accretive acquisitions and delivering high-return organic growth. Going forward, our business plan remains the same, and we'll continue to leverage these unique advantages to drive outsized returns for our investors.” "Since inception, we have made tremendous progress towards simplifying our corporate structure and reducing our sponsor ownership, while at the same time generating leading shareholder returns," said James Walter, Co-CEO. "These actions have made our business more transparent, more aligned with our shareholders and even better positioned to continue creating outsized returns for our investors."
Informational and educational content only. Not investment advice.