Permian Resources Crushes Q2 Expectations with Strong Production Growth
Permian Resources Corporation (NYSE: PR) announced its second quarter 2026 financial and operational results, showing strong growth in production and revenue. The company reported total average daily production of 376.4 million barrels of oil equivalent per day (MBoe/d), including 198.1 MBbls/d of oil, 86.2 MBbls/d of natural gas liquids (NGLs) and 552.9 MMcf/d of natural gas.
The company's acquisitions in the Delaware Basin have been successful, with over $1 billion spent on high-quality inventory-rich deals year-to-date. Permian Resources has increased its working interest to over 80% through these bolt-on acquisitions, allowing it to increase production in the near-term while utilizing the same drilling rigs and completion crews.
The company's cash capital expenditures were $521 million, with a significant portion spent on high-return workover projects. Permian Resources generated net cash provided by operating activities of $1,506 million, adjusted operating cash flow of $1,272 million and adjusted free cash flow of $751 million during the quarter.
Permian Resources' Co-CEO Will Hickey said: 'This was an exceptional quarter for Permian Resources. Our team executed a targeted response to higher oil prices, increasing capital expenditures to focus on high-return, rapid payback projects such as workovers.'