Description

Permian Resources’ 413,000 BOE/Day Quarter Signals Operating Power; What’s Next?

Permian Resources reported a first quarter 2026 performance characterized by operational efficiencies and financial discipline, delivering its highest free cash flow per share in company history at $0.60. The company exceeded production expectations, averaging 192,000 barrels of oil per day and a total of 413,000 barrels of oil equivalent per day. This was attributed to improved well performance, accelerated workover activity driven by higher oil prices, and minimized downtime. Notably, Permian Resources reduced its drilling and completion (D&C) costs to approximately $685 per lateral foot, setting new records for both drilling speed—over 2,500 feet per day—and lateral length, with about 25% of wells exceeding 2.5 miles. Efficiency efforts extended to water recycling rates reaching roughly 70%, cutting completion costs and lease operating expenses, alongside installing microgrids that reduced electricity expenses by approximately 30%.