Permian Resources Q2 oil production up 1%, raises FY guidance, announces $817.5M OXY bolt-on

Permian Resources Corp

2024-Q2 EPS reported $0.61 revenue$2,489,082,000

Q2 oil production 152.9 Mbbls/d (+1% QoQ); total 338.8 MBoe/d; D&C costs down 13% YoY to ~$830/ft.
Adjusted free cash flow $332M ($0.43/share); total return of capital $193M ($0.25/share) via dividends and buybacks.
Announced $817.5M acquisition from Occidental for ~29,500 net acres and ~15,000 Boe/d; close expected Q3 2024.
Raised 2024 standalone oil guidance mid-point 1.5% to 152 Mbbls/d, total to 325 MBoe/d; capex unchanged.
Issued $1B 6.25% senior notes due 2033 to fund acquisition and refinance 7.75% notes due 2026; targeting IG by 2025.

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