Permian Resources Announces Strong Third Quarter 2026 Results and Updated Full Year Guidance

Will Hickey, Co-CEO of Permian Resources

“This marks another outstanding quarter from the Permian Resources team, with continued execution across the board. During the third quarter, we responded to a strong price environment with higher production across all three commodity streams. Importantly, we were able to generate production growth while maintaining cost discipline, delivering record low total controllable cash costs per Boe”

Will Hickey, Co-CEO of Permian Resources

“As a result, we generated adjusted free cash flow of $846 million, representing a significant increase compared to the second quarter despite lower oil prices.”

James Walter, Co-CEO of Permian Resources

“Throughout the year our team has reacted quickly to higher commodity prices, growing production in order to maximize value for shareholders. Importantly, we have been able to accomplish this through rapid payback initiatives such as increasing working interest, accelerating workover activity and reducing cycle times, while maintaining our current rig and fleet counts”

James Walter, Co-CEO of Permian Resources

“As a result of our team's relentless focus on driving higher free cash flow, our current plan is expected to generate an incremental $300 million of free cash flow this year compared to our original plan in February, normalized for commodity prices. This is a true testament to our team, and I would like to thank them for their hard work and dedication.”

James Walter, Co-CEO of Permian Resources

“Our primary objective is to create shareholder value, and that starts with a sound M&A strategy which delivers full cycle returns and makes our business better not only today but also into the future. The Ridge Runner bolt-on is a perfect example, adding core inventory offset our existing position and driving free cash flow per share accretion over the near, medium and long-term”

James Walter, Co-CEO of Permian Resources

“I’d also like to thank Scott Germann and the entire Ridge Runner team. They built an extraordinary business, and we are excited to get this deal to the finish line. The Ridge Runner management team has been good friends and partners to us over the past ten plus years, and we are excited to find additional ways to work with them in the future.”