Financial Performance - Net income attributable to Class A Common Stock for FY'22 was $515037 thousand[3] - Net income attributable to noncontrolling interest for FY'22 was $234803 thousand[3] - Adjusted EBITDAX for FY'22 was $1516294 thousand[3] - Q4'22 average daily production was 158208 Boe/d, exceeding guidance[15] - Q4'22 average daily oil production was 81378 Bo/d, with oil accounting for 51% of production[15] - Q4'22 Adjusted EBITDAX was $621 million[15] - Q4'22 adjusted free cash flow was $256 million[15] Operational Highlights and Guidance - The company is running 7 drilling rigs with plans to reduce to 6 rigs during Q2'23[29] - FY'23 total production is guided to be between 155000 and 168000 MBoe/d[31] - FY'23 oil production is guided to be between 82000 and 88000 MBo/d[34] - FY'23 capital program is estimated to be between $125 billion and $145 billion[40] Portfolio Optimization - Executed portfolio optimization transactions, generating ~$100 million of net cash proceeds[14]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2022 OR ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-37697 PERMIAN RESOURCES CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 47-5381253 (State of Incorporation) ...

Part I—FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited financial statements show significant revenue and net income growth driven by higher commodity prices [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to $4.22 billion, driven by increased cash, while shareholders' equity rose to $2.97 billion Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $349,879 | $86,535 | | Cash and cash equivalents | $201,092 | $9,380 | | **Total Assets** | **$4,224,030** | **$3,804,594** | | **Total Current Liabilities** | $316,101 | $167,899 | | Long-term debt, net | $801,849 | $825,565 | | **Total Liabilities** | **$1,254,462** | **$1,053,874** | | **Total Shareholders' Equity** | **$2,969,568** | **$2,750,720** | [Consolidated Statements of Operations](index=8&type=section&id=Consolidated%20Statements%20of%20Operations) A significant profitability turnaround resulted in a Q2 2022 net income of $191.8 million, driven by doubled sales revenue Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | Oil and gas sales | $472,654 | $232,577 | $819,931 | $424,968 | | Total operating expenses | $189,560 | $171,453 | $371,782 | $329,856 | | Income (loss) from operations | $281,688 | $67,099 | $446,825 | $101,131 | | Net income (loss) | $191,826 | $(25,055) | $207,628 | $(59,700) | | Diluted EPS | $0.60 | $(0.09) | $0.66 | $(0.21) | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net operating cash flow surged to $455.1 million for the six-month period, reflecting higher commodity prices Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $455,099 | $179,625 | | Net cash used in investing activities | $(228,603) | $(127,076) | | Net cash used in financing activities | $(34,784) | $(53,644) | | **Net increase (decrease) in cash** | **$191,712** | **$(1,095)** | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Disclosures detail the pending Colgate merger, debt structure, hedging instruments, and key contingencies - On May 19, 2022, the company entered into a Business Combination Agreement for a **merger of equals with Colgate Energy Partners III, LLC**[65](index=65&type=chunk)[67](index=67&type=chunk) - In February 2022, the company entered into an amended five-year secured credit facility, increasing elected commitments to **$750 million** and the borrowing base to **$1.15 billion**[72](index=72&type=chunk) - The company has a potential contingency loss ranging from **zero to $7.6 million** related to a lawsuit concerning Winter Storm Uri[158](index=158&type=chunk) - Subsequent to the quarter end, the company amended its Credit Agreement, increasing elected commitments to **$1.5 billion** and the borrowing base to **$2.5 billion** upon the merger's closing[168](index=168&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Favorable market conditions drove substantial revenue growth, funding capital expenditures and debt repayment - The company entered into a **merger of equals agreement with Colgate Energy Partners III, LLC**, expected to close after the August 29, 2022 shareholder meeting[176](index=176&type=chunk)[178](index=178&type=chunk) - During H1 2022, the company operated a **two-rig drilling program**, completing 31 gross operated wells[179](index=179&type=chunk) - A **$350 million stock repurchase program** was authorized in February 2022, but no repurchases have been made due to merger-related restrictions[181](index=181&type=chunk) - The 2022 standalone capital expenditure budget is projected between **$365 million and $425 million**, expected to be fully funded by operating cash flows[229](index=229&type=chunk) [Results of Operations](index=32&type=section&id=Results%20of%20Operations) Q2 revenue increased 103% to $472.7 million, driven by higher realized oil prices and production volumes Q2 2022 vs Q2 2021 Performance | Metric | Q2 2022 | Q2 2021 | % Change | | :--- | :--- | :--- | :--- | | Oil and gas sales | $472.7M | $232.6M | 103% | | Average realized oil price (per Bbl) | $104.69 | $60.99 | 72% | | Total average daily production (Boe/d) | 70,240 | 61,647 | 14% | | Net Income | $191.8M | $(25.1)M | N/A | H1 2022 vs H1 2021 Performance | Metric | H1 2022 | H1 2021 | % Change | | :--- | :--- | :--- | :--- | | Oil and gas sales | $819.9M | $425.0M | 93% | | Average realized oil price (per Bbl) | $97.42 | $57.08 | 71% | | Total average daily production (Boe/d) | 65,824 | 57,945 | 14% | | Net Income | $207.6M | $(59.7)M | N/A | - **Lease Operating Expenses (LOE) per Boe increased** due to higher electricity and workover costs[189](index=189&type=chunk)[210](index=210&type=chunk) - **Severance and ad valorem taxes as a percentage of revenue increased to 7.3%** in H1 2022, driven by higher production from New Mexico[191](index=191&type=chunk)[212](index=212&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) Strong operating cash flow of $455.1 million funded capital expenditures and eliminated credit facility borrowings Cash Flow and Capital Expenditure Summary (H1 2022) | Metric | Amount (in millions) | | :--- | :--- | | Net cash provided by operating activities | $455.1 | | Total capital expenditures incurred | $255.3 | | Net repayment of credit facility borrowings | $25.0 | - As of June 30, 2022, the company had **no borrowings outstanding** under its credit facility and an available borrowing capacity of **$744.2 million**[237](index=237&type=chunk) - The pending merger with Colgate will involve **assuming $1.0 billion of Colgate's senior notes** and potentially borrowing to fund the **$525 million cash consideration**[230](index=230&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages commodity price volatility through derivative instruments and has limited interest rate risk - A **10% change in commodity prices** would impact H1 2022 oil and gas sales by approximately **$82.0 million**[255](index=255&type=chunk) - The company uses **derivative instruments** to mitigate price risk, with swaps and collars in place through March 2024[256](index=256&type=chunk)[257](index=257&type=chunk)[258](index=258&type=chunk) - The company is exposed to interest rate risk through its variable-rate Credit Agreement but had **no borrowings outstanding** as of June 30, 2022[262](index=262&type=chunk)[263](index=263&type=chunk) [Controls and Procedures](index=48&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes in internal controls - The principal executive and financial officers concluded that the company's **disclosure controls and procedures were effective** as of June 30, 2022[265](index=265&type=chunk) - **No material changes** occurred during the quarter that are reasonably likely to materially affect the company's internal control over financial reporting[266](index=266&type=chunk) Part II—OTHER INFORMATION [Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) The company faces a legal dispute related to Winter Storm Uri with a potential loss exposure of up to $7.6 million - The company is involved in a legal dispute regarding unused pipeline capacity during Winter Storm Uri, with a reasonably possible loss estimated between **zero and $7.6 million**[158](index=158&type=chunk)[268](index=268&type=chunk) [Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) Key risks relate to the pending merger with Colgate, including completion uncertainty and integration challenges - The merger with Colgate is subject to closing conditions and may be terminated, potentially requiring a **termination fee of $72.0 million**[270](index=270&type=chunk)[273](index=273&type=chunk) - The **merger consideration is fixed** and will not be adjusted for changes in market price, creating valuation risk[275](index=275&type=chunk) - The company will incur **additional indebtedness** to fund the $525 million cash portion of the merger and will assume **$1.0 billion of Colgate's senior notes**[288](index=288&type=chunk) - **Integrating Colgate**, a private company, into a public reporting structure may require significant resources and increase compliance costs[297](index=297&type=chunk) [Exhibits](index=55&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including the Business Combination Agreement and Credit Agreement amendments - Key exhibits filed include the **Business Combination Agreement** dated May 19, 2022, and the First Amendment to the Credit Agreement dated July 15, 2022[302](index=302&type=chunk)

Centennial Resource Development, Inc. (CDEV) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET Company Participants Sean Smith - CEO George Glyphis - EVP & CFO Matthew Garrison - EVP & COO Hays Mabry - Senior Director, Investor Relations Conference Call Participants Scott Hanold - RBC Capital Markets John Annis - Stifel Financial Corp. Danny Pelton - Truist Securities Operator Good morning and welcome to the Centennial Resource Development's Conference Call to discuss its Second Quarter 2022 earni ...

AUGUST 3, 2022 1 1) Footer(s) Second Quarter 2022 Earnings Presentation Important Information Forward-Looking Statements The information in this presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this presentation, regarding our strategy, future operations, financial position, estimated revenues a ...

CENTENNIAL MAY 19, 2022 1) Footer(s)Transformational Combination of Centennial & Colgate Important Information 1) Footer(s) Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this presentation regarding the proposed business combination between Centennial and Colga ...

MAY 4, 2022 1 1) Footer(s) First Quarter 2022 Earnings Presentation Important Information Forward-Looking Statements The information in this presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this presentation, regarding our strategy, future operations, financial position, estimated revenues and l ...

Part I—FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=7&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The company's unaudited statements show a net income of $15.8 million, reversing a prior-year loss [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) Total assets grew to $3.96 billion, driven by increases in cash and accounts receivable Consolidated Balance Sheets (in thousands) | | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | $189,434 | $86,535 | | **Total property and equipment, net** | $3,727,063 | $3,685,820 | | **TOTAL ASSETS** | **$3,958,532** | **$3,804,594** | | **Total current liabilities** | $299,727 | $167,899 | | **Long-term debt, net** | $801,203 | $825,565 | | **Total liabilities** | **$1,187,455** | **$1,053,874** | | **Total Shareholders' equity** | **$2,771,077** | **$2,750,720** | | **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | **$3,958,532** | **$3,804,594** | [Consolidated Statements of Operations](index=8&type=section&id=Consolidated%20Statements%20of%20Operations) The company achieved a net income of $15.8 million, driven by an 81% rise in oil and gas sales Consolidated Statements of Operations (in thousands) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Oil and gas sales** | $347,277 | $192,391 | | **Total operating expenses** | $182,222 | $158,403 | | **Income (loss) from operations** | $165,137 | $34,032 | | **Net gain (loss) on derivative instruments** | ($129,523) | ($51,199) | | **Net income (loss)** | **$15,802** | **($34,645)** | | **Diluted income (loss) per share** | **$0.05** | **($0.12)** | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations more than doubled to $160.1 million, funding investments and debt repayment Consolidated Statements of Cash Flows (in thousands) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$160,120** | **$72,346** | | **Net cash used in investing activities** | **($84,088)** | **($46,598)** | | **Net cash used in financing activities** | **($34,788)** | **($20,609)** | | **Net increase (decrease) in cash** | $41,244 | $5,139 | | **Cash, cash equivalents and restricted cash, end of period** | $51,179 | $13,478 | [Notes to Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail a new credit facility, stock compensation, derivative losses, and revenue composition - In February 2022, the company entered into an amended and restated five-year secured credit facility, increasing elected commitments to **$750 million** and the borrowing base to **$1.15 billion**, extending maturity to February 2027[69](index=69&type=chunk) - Total stock-based compensation expense was **$19.3 million in Q1 2022**, up from $15.0 million in Q1 2021, with liability awards comprising the majority of the expense[101](index=101&type=chunk) - The company recognized a **net loss of $129.5 million** on derivative instruments in Q1 2022, compared to a $51.2 million loss in Q1 2021[127](index=127&type=chunk) Oil and Gas Sales Breakdown (in thousands) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Oil sales | $262,767 | $133,726 | | Natural gas sales | $39,018 | $35,451 | | NGL sales | $45,492 | $23,214 | | **Total Oil and gas sales** | **$347,277** | **$192,391** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q1 results to higher commodity prices, leading to increased revenue and cash flow [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Revenues rose 81% to $347.3 million, fueled by higher commodity prices and a 13% production increase - The increase in production volumes was driven by the successful completion of **49 new wells** since Q1 2021, compared to 20 wells in the prior period[181](index=181&type=chunk) - Interest expense **decreased by $4.3 million** year-over-year, primarily due to the redemption of Senior Secured Notes in April 2021 and lower borrowings on the credit facility[193](index=193&type=chunk) Q1 2022 vs Q1 2021 Performance Summary | Metric | Q1 2022 | Q1 2021 | % Change | | :--- | :--- | :--- | :--- | | **Total Net Revenues** | $347.3M | $192.4M | 81% | | **Average Daily Production (Boe/d)** | 61,359 | 54,202 | 13% | | **Average Realized Oil Price ($/Bbl)** | $89.17 | $52.62 | 69% | | **Lease Operating Expenses ($/Boe)** | $5.20 | $5.30 | (2)% | | **Severance & Ad Valorem Taxes** | $25.1M | $12.6M | 99% | [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity improved, fully funding capital expenditures and paying down its credit facility - The company funded its Q1 2022 capital expenditures of **$114.7 million entirely from cash flows from operations** and expects to fund its full-year budget of $365-$425 million similarly[200](index=200&type=chunk) - In February 2022, the Board of Directors authorized a stock repurchase program to acquire up to **$350 million** of outstanding common stock through April 1, 2024[176](index=176&type=chunk)[201](index=201&type=chunk) - As of March 31, 2022, the company had **no borrowings outstanding** under its new credit facility and **$744.2 million in available borrowing capacity**[208](index=208&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is commodity price volatility, managed through derivative instruments - A hypothetical **10% change** in the NYMEX forward curve for crude oil as of March 31, 2022, would change the fair value of derivative positions by approximately **$45 million**[232](index=232&type=chunk) - The company's Credit Agreement is based on a SOFR spread, exposing it to interest rate risk; however, as of March 31, 2022, there were **no borrowings outstanding**[233](index=233&type=chunk)[234](index=234&type=chunk) Derivative Fair Value Change (in thousands) | Description | Amount | | :--- | :--- | | Net fair value as of Dec 31, 2021 | $(34,910) | | Cash settlement payments, net | $42,878 | | Mark-to-market losses | $(129,523) | | **Net fair value as of Mar 31, 2022** | **$(121,555)** | [Controls and Procedures](index=43&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of the quarter-end - The principal executive officer and principal financial officer concluded that the company's **disclosure controls and procedures were effective** as of March 31, 2022[237](index=237&type=chunk) - **No material changes** occurred during the quarter ended March 31, 2022, that are reasonably likely to materially affect the company's internal control over financial reporting[238](index=238&type=chunk) Part II—OTHER INFORMATION [Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company faces a legal dispute with a potential loss exposure of up to $7.6 million - The company is in a legal dispute over pipeline capacity charges during Winter Storm Uri, with a potential loss exposure estimated to be between **zero and $7.6 million**[154](index=154&type=chunk) [Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the last annual filing - There have been **no material changes** in the company's risk factors from those described in its 2021 Annual Report[241](index=241&type=chunk) [Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including required certifications - Exhibits filed include the Second Amended and Restated 2016 Long Term Incentive Plan and certifications from the CEO and CFO pursuant to **Section 302 of the Sarbanes-Oxley Act**[243](index=243&type=chunk)

Centennial Resource Development, Inc. (CDEV) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET Company Participants Sean R. Smith – Chief Executive Officer Matthew R. Garrison – Executive Vice President & Chief Operating Officer George S. Glyphis – Executive Vice President & Chief Financial Officer Hays Mabry – Senior Director, Investor Relations Conference Call Participants Jordan Levy – Truist Securities Davis Petros – RBC Capital Markets Zach Parham – JPMorgan Chase & Co. John Annis – Stifel Finan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 CENTENNIAL RESOURCE DEVELOPMENT, INC. (Exact name of registrant as specified in its charter) Delaware 47-5381253 (State of Incorporation) (I.R.S. Employer Identification No.) 1001 Seventeenth Street, Suite 1800 Denver, Colorado 80202 For the fiscal year ended December 31, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Sec ...