Permian Resources Q1 oil output rises

Permian Resources

06/05/2026 21:29

Overview

U.S. oil and gas producer's Q1 oil production rose 2% quarter-over-quarter

Company increased full-year 2026 oil production guidance by 3.5 MBbls/d

Net income and diluted EPS fell sharply year-over-year despite higher production

Outlook

Permian Resources raises 2026 oil production guidance mid-point to 192.5 MBbls/d

Company expects Q2 oil production and capital expenditures to be modestly higher than Q1

Permian Resources maintains flexibility to adjust activity in H2 2026 based on crude prices

Result Drivers

OIL PRODUCTION GROWTH - Q1 oil production rose 2% quarter-over-quarter due to strong runtime, new well performance, and accelerated production activities

COST REDUCTIONS - Drilling and completion costs per lateral foot fell 2% from the prior quarter, reflecting continued operational efficiencies

GAS TRANSPORTATION - Improved natural gas transportation portfolio boosted realized gas prices and helped manage volatility in Waha pricing

Company press release: ID:nBwbxzJFCa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted Capex
$466 mln
Q1 Adjusted Free Cash Flow
$979 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)