01—Abstract
Summary
Summary of the 8-K filed August 5, 2026. Cited figures are marked; the original filing is the authoritative source.
Permian Resources Corporation (NYSE: PR) reported second quarter 2026 results on August 5, 2026, through Exhibit 99.1 to this Form 8-K.
Average total production was 376,409 Boe/d, including 198,071 Bbls/d of oil, and realized oil prices were $97.81a per barrel. Oil and gas sales were $1.86 billion for the quarter, net income attributable to Class A Common Stock was $792.5 million, and adjusted free cash flow was $750.8 million on cash capital expenditures of $521.4 million. Net cash provided by operating activities was $1.51 billion.
The company acquired roughly 54,000 net acres and 20,000 net royalty acres in the Delaware Basin through about 190 transactions for $1.05 billionb. It raised its 2026 oil production guidance midpoint to 199.0 MBbls/d and increased its cash capital expenditure range to $1.9 to $2.0 billion, citing higher working interest from ground game activity, workovers and the Ward County bolt-on, which closed July 31, 2026. Net debt-to-LQA EBITDAX was 0.5x at June 30, 2026, and total debt was reduced to $2.7 billion per the filing, from $4.2 billion at year-end 2024.
The company also declared a third quarter base dividend of $0.16c per share. The filing highlights that natural gas realizations were negative on an unhedged basis at $(1.74) per Mcf, as Waha prices averaged $(3.14) per Mcf, and the company curtailed some high-GOR production in response. Realized oil prices were well above the prior-year period, though derivative settlements reduced the effective oil price to $85.37 per Bbl including hedging.
02—Key points
Key Highlights
- Q2 2026 total average production of 376,409 Boe/d, with oil at 198,071 Bbls/d versus 176,533 Bbls/d in Q2 2025.
- Net income attributable to Class A Common Stock of $792.5 million for Q2 2026, compared with $207.1 million in Q2 2025; diluted EPS was $0.93.
- Adjusted free cash flow of $750.8 million for Q2 2026 on net cash provided by operating activities of $1.51 billion and cash capital expenditures of $521.4 million.
- Acquired about 54,000 net acres and 20,000 net royalty acres for $1.05 billion across roughly 190 transactions year-to-date, at a weighted average front-month WTI price of $72.50 per barrel.
- Raised 2026 oil production guidance midpoint to 199.0 MBbls/d and increased cash capital expenditure guidance to $1.9 to $2.0 billion.
- Net debt-to-LQA EBITDAX of 0.5x at June 30, 2026; the company redeemed the remaining legacy Earthstone senior notes, reducing annual cash interest by about $75 million.
- Declared a third quarter 2026 base dividend of $0.16 per share, payable September 30, 2026; the filing cites an annualized yield of 3.1% as of August 4, 2026.
03—Questions
Frequently Asked Questions
How did Permian Resources perform financially in the second quarter of 2026?
The company reported oil and gas sales of $1.86 billion and net income attributable to Class A Common Stock of $792.5 million for the quarter, compared with $207.1 million a year earlier. Net cash provided by operating activities was $1.51 billion, and adjusted free cash flow was $750.8 million.
What changed in the company's 2026 guidance?
Oil production guidance midpoint was raised to 199.0 MBbls/d, and the cash capital expenditure range was increased to $1.9 to $2.0 billion. The filing attributes the changes to higher working interest from ground game activity, increased workover activity, and production from the Ward County bolt-on acquisition, which closed July 31, 2026. Average working interest is expected to exceed 80%.
What acquisitions did the company complete in 2026?
Year-to-date, the company acquired about 54,000 net leasehold acres and 20,000 net royalty acres through roughly 190 transactions for $1.05 billion, equal to about $13,000 per net leasehold acre and $2.5 million per net 10,000-foot location. The filing states the acquisitions included no existing production in the first half, and the Ward County bolt-on was producing about 5,000 Boe/d at closing.
How exposed is the company to natural gas price weakness?
The filing reports Waha natural gas prices averaged $(3.14) per Mcf in the second quarter and fell as low as $(9.52) per Mcf. Unhedged natural gas realizations were $(1.74) per Mcf, and the company curtailed some high-GOR production with Waha exposure to protect free cash flow. Natural gas hedges added $2.12 per Mcf, bringing the all-in netback to $0.38 per Mcf.
What is the company's balance sheet and dividend position?
Total debt was reduced to $2.7 billion from $4.2 billion at year-end 2024, and net debt-to-LQA EBITDAX was 0.5x at June 30, 2026. The company expects year-end 2026 leverage of about 0.5x at current strip pricing. The Board declared a $0.16 per share third quarter base dividend, or $0.64 annualized.
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