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Permian Resources 8-K Report, Financial Results (May 6, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed May 6, 2026
Period End
May 6, 2026
Security
PR
In the record · 2016–202610-K1010-Q328-K167

PR filed 10 annual reports (10-K), 32 quarterly reports (10-Q) and 167 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jun ’17Jun ’17
  2. Leadership change8-K · May ’19May ’19
  3. Leadership change8-K · Jul ’21Jul ’21
  4. Material agreement8-K · May ’25May ’25

01—Abstract

Summary

Summary of the 8-K filed May 6, 2026. Cited figures are marked; the original filing is the authoritative source.

Permian Resources Corporation (NYSE: PR) reported first quarter 2026 results on May 6, 2026, in a press release furnished as Exhibit 99.1 to this Form 8-K.

The company produced 412,850 Boe/d, including 192,349 Bbls/d of oil, and generated net cash provided by operating activities of $815 milliona, adjusted operating cash flow of $979 million and adjusted free cash flow of $513 million. Cash capital expenditures were $466 million, and drilling and completion costs were approximately $685 per lateral foot. Reported net income attributable to Class A Common Stock was $43.6 million, down from $329.3 million a year earlier, largely reflecting a $339.9 million net loss on derivative instruments.

Adjusted net income was $336.6 millionb, or $0.39 per adjusted diluted share. The company raised the midpoint of its full-year 2026 oil production guidance by 3.5 MBbls/d to 192.5 MBbls/d, while leaving all other guidance ranges unchanged. Management said it will accelerate production and capital modestly in the second quarter given higher crude prices in March, and it retains flexibility to adjust activity in the second half of 2026.

Net debt-to-LQA EBITDAX was 0.8x, and the company noted investment grade ratings from S&P (BBB-), Moody's (Baa3) and Fitch (BBB-). It entered a new five-year revolving credit facility with commitments of $3.0 billionc and redeemed $550 million of legacy Earthstone 8.00% Senior Notes due 2027. The filing also describes corporate simplification: the remaining Class C shares converted to Class A, leaving a single share class, and the company reports 0% sponsor ownership, down from approximately 45% in 2023.

The board declared a second quarter 2026 base dividend of $0.16d per share, payable June 30, 2026. The company expects to file its Form 10-Q for the quarter on May 7, 2026, and will hold an earnings call that day.

02—Key points

Key Highlights

  1. Q1 2026 production averaged 412,850 Boe/d, including 192,349 Bbls/d of oil, a 2% increase in oil production versus the prior quarter.
  2. Operating cash flow was $815 million and adjusted free cash flow was $513 million, with cash capital expenditures of $466 million.
  3. Full-year 2026 oil production guidance midpoint was raised by 3.5 MBbls/d to 192.5 MBbls/d; other guidance ranges were unchanged.
  4. Reported net income attributable to Class A Common Stock fell to $43.6 million from $329.3 million, driven by a $339.9 million net loss on derivative instruments.
  5. Net debt-to-LQA EBITDAX was 0.8x, and all three major rating agencies now assign investment grade ratings.
  6. Entered a new five-year, $3.0 billion revolving credit facility on April 30, 2026, and redeemed $550 million of 8.00% Senior Notes due 2027 on April 15, 2026.
  7. Declared a $0.16 per share second quarter 2026 base dividend, and reported that the Class C structure was eliminated and sponsor ownership is now 0%.

03—Questions

Frequently Asked Questions

  1. How did Permian Resources perform in the first quarter of 2026?

    The company reported net cash provided by operating activities of $815 million, adjusted free cash flow of $513 million and total production of 412,850 Boe/d. Reported net income attributable to Class A Common Stock was $43.6 million, compared with $329.3 million in the first quarter of 2025, mainly due to a $339.9 million net loss on derivative instruments.

  2. Did the company change its 2026 guidance?

    Yes, in part. The midpoint of full-year 2026 oil production guidance was increased by 3.5 MBbls/d to 192.5 MBbls/d. The company stated that there are no further changes to its other guidance ranges, including net average daily production of 400,000 to 430,000 Boe/d and total cash capital expenditures of $1,750 million to $1,950 million.

  3. What is the company's plan for the remainder of 2026?

    Management expects second quarter oil production and capital expenditures to be modestly higher than the first quarter. For the second half of 2026, it retains flexibility to maintain or increase activity if crude prices stay higher, or to reduce activity to a level similar to the first quarter if the macro environment weakens. If negative Waha prices persist, it anticipates lower natural gas and NGL volumes in the second quarter.

  4. How strong is the balance sheet and what capital returns were announced?

    Net debt-to-LQA EBITDAX was 0.8x as of March 31, 2026, and the company holds investment grade ratings from S&P (BBB-), Moody's (Baa3) and Fitch (BBB-). Total debt was reduced by approximately $1.2 billion since year-end 2024. The board declared a second quarter 2026 base dividend of $0.16 per share, or $0.64 annualized, payable June 30, 2026.

04—Continue

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