earnings
confidence high
sentiment positive
materiality 0.80
Permian Resources Q3 oil production up 5% QoQ; raises full-year guidance, hikes base dividend 150%
Permian Resources Corp
2024-Q3 EPS reported
$1.16
revenue$3,704,653,000
- Q3 oil production 160.8 MBbls/d, total 347.1 MBoe/d; cash from ops $954M, adj. FCF $303M.
- Base dividend raised 150% to $0.15/share ($0.60 annualized); payable Nov 22 to holders of record Nov 14.
- D&C costs fell 16% YoY to ~$800/lateral foot; full-year oil guidance raised to 158.5 MBbls/d (mid-point).
- Credit facility maturity extended to Feb 2028; borrowing base reaffirmed at $4.0B, commitments at $2.5B.
- Closed Barilla Draw acquisition adding ~29,500 net acres; received credit rating upgrades from Moody's, S&P, Fitch.