Overview

• U.S. oil and gas producer's Q1 oil production rose 2% quarter-over-quarter

• Company increased full-year 2026 oil production guidance by 3.5 MBbls/d

• Net income and diluted EPS fell sharply year-over-year despite higher production

Outlook

• Permian Resources raises 2026 oil production guidance mid-point to 192.5 MBbls/d

• Company expects Q2 oil production and capital expenditures to be modestly higher than Q1

• Permian Resources maintains flexibility to adjust activity in H2 2026 based on crude prices

Result Drivers

• OIL PRODUCTION GROWTH - Q1 oil production rose 2% quarter-over-quarter due to strong runtime, new well performance, and accelerated production activities

• COST REDUCTIONS - Drilling and completion costs per lateral foot fell 2% from the prior quarter, reflecting continued operational efficiencies

• GAS TRANSPORTATION - Improved natural gas transportation portfolio boosted realized gas prices and helped manage volatility in Waha pricing

Company press release: ID:nBwbxzJFCa

Key Details

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