Permian Resources Stock Surges 9.42% with $274 Million Trading Volume Ranking 386th in Market Activity

On May 8, 2025, Permian Resources (PR) saw a significant surge in its stock price, rising by 9.42% and achieving a trading volume of $274 million, ranking 386th in the day's market activity.

Permian Resources reported strong financial and operational results for the first quarter of 2025, highlighting robust production and cost management. The company's average daily crude oil production reached 174,967 barrels, marking a 2% increase from the previous quarter. Total average production stood at 373,209 barrels of oil equivalent per day, driven by strong execution and well performance on recently acquired assets. The company's cash capital expenditures for the quarter were $501 million, with drilling and completion costs reduced to $750 per lateral foot, an 8% decrease from 2024. Permian Resources generated net cash provided by operating activities of $898 million and adjusted free cash flow of $460 million, the highest in the company's history. The company's strong balance sheet, with leverage of approximately 0.8x and cash of $702 million, supported its strategic initiatives. Permian Resources declared a base dividend of $0.15 per share, representing a 5.0% yield, and repurchased 4.1 million shares at an average price of $10.52 per share. The company also announced a strategic acquisition of 13,320 net acres and 8,700 net royalty acres in the Northern Delaware Basin for $608 million, enhancing its inventory and production capabilities. This acquisition is expected to add approximately 12,000 barrels of oil equivalent per day of low decline production during the second half of 2025, with an average breakeven of $30 per barrel WTI. The company's management emphasized its commitment to cost leadership and high-return inventory, positioning Permian Resources to deliver strong free cash flow even at lower oil prices. The acquisition is expected to be accretive to all key per share metrics and will maintain the company's strong balance sheet with net debt-to-EBITDAX of less than 1x and over $3 billion of liquidity at year-end 2025, assuming $60 per barrel WTI for the remainder of the year.