Permian Resources Q1 oil output rises

Permian Resources

Permian Resources

PR

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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

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Adjusted Capex

$466 mln

Q1 Adjusted Free Cash Flow

$979 mln


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