Operational Excellence and Production Increase
Permian Resources delivered its 11th consecutive quarter of solid operational execution, with the fastest well drilled and the lowest completion cost per foot in company history. Production guidance for the full year was raised due to strong well performance, with total production reaching 385,000 barrels of oil equivalent per day in Q2.
Strategic Acquisitions and Share Buybacks
Executed a $600 million acquisition of Apache assets at lower than mid-cycle commodity prices, which complements existing assets and offers strong free cash flow. Additionally, $43 million of shares were repurchased at an average price of $10.52 per share.
Investment-Grade Rating Achievement
Permian Resources received its first investment-grade rating from Fitch, enhancing its financial flexibility and outlook for future growth.
Improved Marketing Agreements
Entered into new transportation and marketing agreements to optimize pricing, expected to improve gas netbacks by $0.10 per Mcf and crude netbacks by $0.50 per barrel, resulting in a $50 million uplift to 2026 free cash flow.
Capital Efficiency and Lower CapEx
Announced a decrease in the capital budget by 2% while increasing production guidance by 3% for the full year 2025.