Permian Resources Corp.
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About
Headquartered in Midland, Texas, Permian Resources Corp. is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. The Company’s operations are located in the Permian Basin, with concentration in the core of the Delaware Basin.
Editor's note: Updated Sept. 1, 2022.
News
Mighty Midland Still Beckons Dealmakers
The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
Stockholder Groups to Sell 48.5MM of Permian Resources’ Stock
A number of private equity firms will sell about 48.5 million shares of Permian Resources Corp.’s Class A common stock valued at about $764 million.
Permian Resources Declares Quarterly Base, Variable Dividends
Permian Resources’ dividends are payable March 21 to shareholders of record by March 13.
Permian Resources Continues Buying Spree in New Mexico
Permian Resources acquired two properties in New Mexico for approximately $175 million.
Shale Outlook: Scarce Inventory to Drive Upstream M&A in ‘24
Permian Basin well productivity has trended down. Top-tier drilling locations are scarce. Capital is at a premium. E&Ps need low-cost inventory and scale, and they’re willing to pay big bucks to get them.
Permian Resources Stock to be Sold for $512MM
Affiliates of NGP Energy Capital Management, Riverstone Investment Group and EnCap Investments are selling approximately 39.4 million shares of Permian Resources’ Class A common stock.
Analysis: Will $2.7B Tokyo Gas-Rockcliff Deal Reopen Natgas M&A?
The Lower 48 has seen a whirlwind of oil and gas M&A this year, including a historic volume of transactions across the Permian Basin. After Tokyo Gas Co.’s $2.7 billion bid to acquire Haynesville E&P Rockcliff Energy II, could the window for natural gas deals be reopening?
Post-Earthstone Deal, Permian Resources Switches Up M&A Strategy
E&P Permian Resources will shift to smaller-scale deals to add value as opportunities to consolidate in the Midland and Delaware basins shrink.
Permian Resources Finds ‘Unique Value Prop’ in Small-ball M&A
Permian Resources isn’t ruling out more large-scale M&A after closing a $4.5 billion acquisition earlier this month, but the growing E&P sees multiple opportunities for small-scale bolt-ons in the Delaware Basin.
Permian Resources Closes $4.5B Earthstone Energy Acquisition
Permian Resources’ acquisition of Earthstone Energy increases its leasehold to more than 400,000 net acres and its production to 300,000 boe/d.
Chevron Buys Hess for $53B as Historic M&A Bonanza Continues
U.S. supermajor Chevron Corp. is acquiring Hess Corp. in a $53 billion megadeal—less than two weeks after Exxon Mobil unveiled a nearly $60 billion Permian Basin acquisition. And experts think the historic run of oil patch consolidation is far from over.
More Consolidation Could Increase Focus on Emissions Reduction
‘Consolidation is going to translate to probably more intensive efforts around low carbon,’ Pickering Energy Partners founder says in the wake of Exxon Mobil's massive acquisition of Pioneer Natural Resources.
Permian Resources Offers Announced Stock Offering
Permian Resources will not receive proceeds from the stock offering.
Permian Resources Offers $500MM Notes to Help Finance Earthstone Deal
Permian Resources will use some of the proceeds to pay down debt it will assume after completing its acquisition of Earthstone Energy.
E&P Reinvestment Rates Predicted to Drop, Rystad Says
Rystad believes the reinvestment rate—the ratio of capex and cash flow from operations—is in decline from a high of 72% reached in the second quarter.