Permian Resources Corp

Listed Company

PRCIK 0001658566NYSELarge AcceleratedCrude Petroleum & Natural GasDelawareFY ends Dec 31

Period

FY 2025

Revenue

$5.07B

Net Income

$935.17M

Total Assets

$17.91B

Equity

$10.28B

Shares Out

751.75M

Op. Cash Flow

$3.61B

Business

Permian Resources Corp is an independent oil and natural gas company that acquires, optimizes and develops crude oil and associated liquids‑rich natural gas reserves in the Permian Basin. It produces and markets oil, natural gas and natural gas liquids (NGLs) through drilling, completion and production activities and through sales and delivery commitments. Its operations include operated and non‑operated upstream development and production activities, reserve engineering and portfolio optimization following strategic mergers and acquisitions. The company’s assets and sales are concentrated in West Texas and southeastern New Mexico and are sold via pipelines, third‑party gathering/processing and contractual purchasers.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Oil and gas sales	5,065	5,001	3,121	2,131	1,030
Lease operating expenses	753	685	374	172	106
Severance and ad valorem taxes	390	378	241	156	67
Gathering, processing and transportation expenses	200	184	89	98	86
Depreciation, depletion and amortization	2,033	1,777	1,008	445	289
General and administrative expenses	186	175	162	160	110
Merger and integration expense	0	18	125	77	0
Impairment and abandonment expense	8	10	7	4	33
Exploration and other expenses	32	31	19	11	8
Total operating expenses	3,602	3,257	2,025	1,122	699
Net gain (loss) on sale of long-lived assets	0	375,000	211,000	−1	34
Income from operations	1,463	1,745	1,097	1,008	371
Interest expense	−283	−296	−177	−96	—
Gain (Loss) on Extinguishment of Debt	−270	−9	0	0	−22
Net gain (loss) on derivative instruments	446	95	114	−42	−149
Other income (expense)	28	16	2	609,000	395,000
Total other income (expense)	−80	−194	−61	−137	−232
Income before income taxes	1,383	1,551	1,036	870	139
Income tax expense	−284	−300	−156	−120	−569,000
Net income	1,099	1,251	880	750	138
Less: Net income attributable to noncontrolling interest	−164	−266	−403	−235	0
Net income attributable to Class A Common Stock	935	985	476	515	138
Basic (in dollars per share)	1.31	1.54	1.36	1.8	0.49
Diluted (in dollars per share)	1.28	1.45	1.24	1.61	0.46

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	154	479	73	60	9
Accounts receivable, net	841	530	481	283	71
Derivative Asset, Current	280	86	71	101	0
Prepaid and other current assets	38	26	25	21	6
Total current assets	1,312	1,122	650	464	87
Unproved properties	1,933	1,990	2,401	1,425	1,040
Proved properties	21,485	18,596	15,037	8,869	4,624
Accumulated depreciation, depletion and amortization	−7,169	−5,163	−3,402	−2,420	−1,989
Total oil and natural gas properties, net	16,249	15,423	14,036	7,874	3,675
Other property and equipment, net	57	50	44	15	11
Total property and equipment, net	16,306	15,473	14,080	7,889	3,686
Operating Lease, Right-of-Use Asset	133	120	59	65	16
Other noncurrent assets	161	183	176	75	16
TOTAL ASSETS	17,912	16,898	14,966	8,493	3,805
Accounts payable and accrued expenses	1,454	1,198	1,168	562	130
Operating Lease, Liability, Current	79	57	33	30	1
Other current liabilities	145	72	41	14	1
Total current liabilities	1,678	1,327	1,242	606	168
Long-term debt, net	3,546	4,184	3,849	2,141	826
Asset retirement obligations	167	148	121	41	17
Deferred income taxes	893	602	423	4	3
Operating Lease, Liability, Noncurrent	55	64	28	41	16
Other noncurrent liabilities	39	53	73	3	25
Total liabilities	6,378	6,379	5,736	2,836	1,054
Commitments and contingencies (Note 13)	—	—	—	—	—
Additional paid-in capital	8,711	8,057	5,767	2,698	3,013
Retained earnings (accumulated deficit)	1,568	1,082	569	237	−262
Total shareholders equity	10,278	9,139	6,336	2,936	2,751
Noncontrolling interest	1,256	1,380	2,894	2,721	0
Total equity	11,534	10,519	9,230	5,656	2,751
TOTAL LIABILITIES AND EQUITY	17,912	16,898	14,966	8,493	3,805
Common stock, shares outstanding (in shares)	752	704	541	289	285

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	70	60	78	116	38
Deferred tax expense	285	299	152	120	569,000
Net (gain) loss on sale of long-lived assets	0	−375,000	−211,000	1	−34
Non-cash portion of derivative (gain) loss	−168	−18	−15	−78	17
Amortization of debt issuance costs, discount and premium	8	7	11	15	5
(Increase) decrease in accounts receivable	−321	−51	36	−67	−21
(Increase) decrease in prepaid and other assets	−23	−8	−27	−2	3
Increase (decrease) in accounts payable and other liabilities	347	78	83	91	16
Net cash provided by operating activities	3,608	3,412	2,213	1,372	526
Acquisition of oil and natural gas properties, net	−1,071	−1,047	−234	−9	−7
Drilling and development capital expenditures	−1,966	−2,061	−1,525	−772	−320
Cash (paid) received for businesses acquired in mergers, net of cash received	0	0	40	—	—
Cash (paid) received for businesses acquired in mergers, net of cash received	—	—	−40	497	0
Purchases of other property and equipment	−14	−13	−34	−4	−901,000
Contingent considerations received related to divestiture	0	0	60	0	—
Proceeds from sales of oil and natural gas properties	177	16	115	76	101
Net cash used in investing activities	−2,873	−3,104	−1,578	−1,205	−226
Proceeds from equity offering, net	0	402	0	0	—
Proceeds from borrowings under revolving credit facility	0	1,965	1,950	1,115	570
Repayment of borrowings under revolving credit facility	0	−1,965	−2,335	−755	−875
Repayment of credit facility acquired in mergers	0	0	−830	−400	0
Proceeds from issuance of senior notes	0	1,000	998	0	170
Debt issuance and redemption costs	−19	−26	−15	−20	−6
Redemption of senior notes	−465	−656	0	0	−127
Proceeds from exercise of stock options	219,000	257,000	534,000	109,000	132,000
Share repurchases	−74	−61	−162	−19	−14
Dividends paid	−448	−467	−142	−14	0
Distributions paid to noncontrolling interest owners	55	94	95	13	0
Net cash (used in) provided by financing activities	−1,060	98	−631	−107	−298
Net increase (decrease) in cash, cash equivalents and restricted cash	−326	405	4	60	2
Cash paid for interest	289	267	140	61	58
Cash paid (refunded) for income taxes	−812,000	7	4	—	—
Equity issued and long-term debt assumed to acquire oil and gas properties	0	100	4,874	3,318	0
Equity issued to redeem Convertible Senior Notes	430	0	0	0	0
Accrued capital expenditures included in accounts payable and accrued expenses	248	292	325	166	29
Asset retirement obligations incurred, including revisions to estimates	24	35	83	23	249,000

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