Permian Resources: Focus on Ground Game Activities & Key Growth Levers!

Permian Resources reported a strong first quarter of 2025, demonstrating a mix of operational efficiency and strategic positioning in a turbulent market. During the quarter, the company achieved its highest historical free cash flow at $0.54 per share, primarily due to reduced costs per unit and robust production performance. Oil production reached 175,000 barrels per day, with total production at 373,000 barrels of oil equivalent per day, reflecting the significant contributions from 2024 acquisitions, particularly through enhanced performance and artificial lift optimizations. Cost reductions were notable, with controllable cash costs down 4% and drilling and completion costs reduced by 3%, reaching $750 per foot.