Permian Resources Corp (NYSE: PR ) has become a leader in the most prolific U.S. oil field through its average production of 12.9 million barrels of oil equivalent per day (BOEPD). PR is clearly showing its commitment to creating valueI am a financial writer with a degree in Finance. In my five-year career, I have worked with two financial companies. I keep a close eye on Energy, Banking, and Tech stocks. My main focus is fundamental analysis and looking at the long-term position of a stock instead of short ...

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial .Roughly three months before the general election in the United States, I asked a question on X (formerly known as Twitter): “Who's more bullish for oil?”Analyst’s Disclosure: I/we have a beneficial long position in the shares of TPL, LB either through stock ownership, options, o ...

Financial Data and Key Metrics Changes - In Q3 2024, the company reported oil production of 161,000 barrels per day and total production of 347,000 barrels of oil equivalent per day, exceeding expectations [7] - Adjusted operating cash flow reached $823 million, with adjusted free cash flow of $303 million [8] - The company raised its full year oil guidance by 11,000 barrels per day, marking a 7% increase from the original guidance [24] Business Line Data and Key Metrics Changes - The company achieved a Q3 lease operating expense (LOE) of $5.43 per BOE, cash G&A of $0.95 per BOE, and GP&T of $1.57 per BOE, indicating strong cost management [8] - The company set a record of 13 days from spud to rig release, demonstrating improved operational efficiency [12] Market Data and Key Metrics Changes - The company is one of the largest natural gas producers in the Permian Basin, producing approximately 600 million cubic feet per day of residue gas, with potential upside if natural gas prices improve [14] - The company increased the amount of natural gas sold at the Gulf Coast by almost 50%, achieving better pricing compared to historical sales at Waha [16] Company Strategy and Development Direction - The company focuses on the Delaware Basin, aiming to maintain a single basin strategy to drive operational efficiencies and shareholder value [10][11] - The company updated its return of capital policy, increasing the base dividend by 150% to $0.60 per share annually, with a current yield over 4% [19][20] - The management emphasizes a strategy of bolt-on acquisitions rather than transformative M&A, focusing on deals that enhance the base business [49][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational plans for 2025, indicating a continued focus on New Mexico for capital spending [29] - The company is optimistic about the potential for natural gas demand growth due to expected changes in power consumption [33] - Management noted that they do not foresee significant regulatory changes in New Mexico that would impact operations [48] Other Important Information - The company has maintained a strong balance sheet with leverage around one times and increased liquidity to nearly $2.8 billion [22] - The company is over 25% hedged heading into Q4 at $74, providing downside protection [22] Q&A Session Summary Question: Future operational plans for 2025 - Management indicated that the capital spend will primarily focus on New Mexico, with some activity in Texas, and they are ahead on permitting [29][30] Question: Plans for surface acres and gas pricing - Management discussed potential options for maximizing value from surface acres and the goal of moving more gas volumes to favorable downstream markets [31][34] Question: 2025 guidance and production outlook - Management stated it is too early to provide firm numbers for 2025 but indicated a growth target of 0-10% based on prior year's average [36][38] Question: Infrastructure spending trends - Management confirmed that infrastructure spending is expected to be down year over year, primarily due to reduced acquisition-related expenditures [53] Question: Natural gas pricing and M&A focus - Management emphasized a focus on bolt-on M&A opportunities that enhance the base business rather than transformative deals [49][51] Question: Water recycling goals - Management expressed a goal to increase recycled water usage to two-thirds or three-fourths over the next couple of years [44][45] Question: Service cost trends and deflation - Management noted some progress in reducing costs for materials but indicated that service company pricing remains sticky [62] Question: Activity expectations for Q4 - Management expects a slight decrease in CapEx for Q4 compared to Q3, primarily due to well mix [68]

Permian Resources (PR) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.38%. A quarter ago, it was expected that this company would post earnings of $0.36 per share when it actually produced earnings of $0.39, delivering a surprise of 8.33%.Over the last four quarters, the company ha ...

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Permian Resources (PR) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on November 6, 2024, might help the stock move higher if these key numbers are bette ...

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial . Despite frequently covering energy stocks in recent years, I have neglected what could be one of the cheapest energy stocks in North America. That company is Permian Resources (NYSE: PR ) , a Permian-based (obviously) producer of oil Analyst's Disclosure: I/we have a beneficial ...

The U.S. oil and gas exploration and production industry has faced headwinds related to falling natural gas prices and political uncertainty so far in 2024. Cash from operations across three dozen leading U.S. firms fell in real terms from the first quarter of 2023 to the first quarter of this year due to lower gas prices. The November election is also likely to play a significant role in shaping the industry's future. PR At the same time, production cuts by OPEC+ have supported increased crude oil producti ...

I analyze oil and gas companies like Permian Resources and related companies in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up ...

Permian Resources (PR) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this company would post earnings of $0.36 per share when it actually produced earnings of $0.42, delivering a surprise of 16.67%. Over the last four quarters, the company ...