Permian Resources beats Q4 oil target, raises 2023 guidance, declares $0.05 dividend

Permian Resources Corp

2022-FY EPS reported $1.61 revenue$2,131,265,000

Q4 oil production 81.4 MBbls/d, 9% above prior outlook mid-point; net income $83M ($0.26 diluted EPS).
Net cash from ops $528M; adjusted free cash flow $256M; net debt-to-LQA EBITDAX 0.9x.
2023 oil production target raised 4% to ~85 MBbls/d; total production ~162 MBoe/d; capex $1.25-1.45B.
Controllable cash costs lowered ~5% to $7.60/Boe; rig count to drop from 7 to 6 in Q2 2023.
Quarterly base dividend $0.05/share; variable return program to begin in Q1 2023, distributing ≥50% of FCF.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Permian Resources Corp reported Fourth Quarter 2022 results: net income $83 million, EPS $0.26 per diluted share. Guidance raised.

Period: Fourth Quarter 2022
Net income: $83 million
EPS: $0.26 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

For the quarter, Permian Resources generated net cash provided by operating activities of $528 million and adjusted free cash flow of $256 million. The Company also reported net income attributable to Class A Common Stock during the fourth quarter of $83 million, or $0.26 per diluted share.

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Source: SEC EDGAR

accession 0001658566-23-000013

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