Permian Resources Boosts 2026 Guidance on Strong Q1 Production and…

Event summary

Permian Resources reported Q1 2026 average production of 412.9 MBoe/d, including 192.3 MBbls/d of oil.
The company reduced drilling and completion costs to ~$685 per lateral foot, a 6% reduction from 2025.
Permian Resources executed ~40 bolt-on transactions totaling $205 million.
The company increased its full-year oil production guidance by 3.5 MBbls/d to 192.5 MBbls/d at the midpoint.
Permian Resources received investment-grade credit ratings from S&P and Moody’s, maintaining a leverage ratio of ~0.8x.

The big picture

Permian Resources' strong Q1 2026 performance highlights its ability to drive higher production and free cash flow per share while lowering costs. The company's strategic focus on operational efficiency and financial flexibility positions it well to navigate volatile market conditions. With investment-grade credit ratings and a robust balance sheet, Permian Resources is poised to continue delivering outsized returns for investors.

What we're watching

Production Growth: Whether Permian Resources can sustain its accelerated production growth in Q2 2026 amid volatile Waha gas prices.
Cost Management: The pace at which the company can further reduce drilling and completion costs to enhance margins.
Market Conditions: How Permian Resources' operational flexibility will impact its ability to maximize free cash flow in 2026 and 2027.