Permian Resources (PR) Q1 Results - May 7

[dan_s]

PR's Q1 production exceeded my forecast of 365,000 Boepd. Financial results were inline with my forecast. They remain on pace to meet the high end of their 2025 production guidance.

Recent Financial and Operational Highlights

Reported crude oil and total average production of 175.0 MBbls/d and 373.2 MBoe/d

Announced cash capital expenditures of $501 million, net cash provided by operating activities of $898 million and adjusted free cash flow1 of $460 million, representing the highest adjusted free cash flow in Company history

Closed previously announced non-core divestiture of the Barilla Draw gathering systems for $180 million

Maintained strong balance sheet with leverage1 of ~0.8x, cash of $702 million and total liquidity of $3.2 billion

Declared base dividend of $0.15 per share, representing a 5.0% yield

Recently repurchased 4.1 million shares at a weighted average price of $10.52 per share

Reduced the mid-point of full year capital budget by $50 million to $1.95 billion, while maintaining oil and total production guidance ranges