Permian Resources falls on deal to buy Occidental's Delaware Basin assets for $818 mln

Permian Resources

29/07/2024 12:02

** Shares of oil and gas producer Permian Resources  PR.N 
fall 2.1% to $14.99 premarket
    ** Co to buy certain Delaware Basin assets in Texas and New
Mexico from Occidental Petroleum  OXY.N  for $818 million
    ** PR to buy a total of 29,500 net acres in the Barilla Draw
Field, with an estimated combined net production of 15,000
barrels of oil equivalent per day (boepd) in Q4 of 2024
    ** Deal expected to close in Q3 of 2024
    ** As of last close, PR stock is up 12.5% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))