Permian Resources Corporation is set to release its first quarter earnings for 2024 in May, as stated by the company.
According to a press statement from Permian Resources, the company will unveil its 2024 financial and operating results after the market closes on May 7. This will be followed by a conference call at 9 a.m. on May 8. Interested parties can listen to the call via a livestream on the company's website or by dialing (800) 225-9448 at least 15 minutes before the start of the call. A replay of the meeting will be available for approximately two weeks following the conclusion of the call.
Permian Resources, an independent oil and natural gas company based in Midland, primarily focuses on developing crude oil and related liquids-rich natural gas reserves in the United States, according to another press release. A significant portion of the company's assets are located within the Delaware Basin, positioning it as the second largest pure-play exploration, development and production entity in the Permian Basin.
In February, Permian Resources announced that its fourth quarter production for 2023 was 136,590 barrels of oil per day - a notable increase of 54% over the same period in the previous quarter. The company continued to efficiently develop its core Delaware Basin acreage position with an average total production of 285,161 barrels of oil equivalent per day during this fourth quarter.
"In our first full year, Permian Resources had an outstanding 2023, accomplishing all our goals laid out last February," said Will Hickey, Co-CEO of Permian Resources. "On a standalone basis, we delivered oil production at the high-end of our 2023 guidance range while staying within our capex budget." Hickey went on to say that "during the fourth quarter, Permian Resources reported another strong quarter of production outperformance and operational improvements amidst closing the Earthstone acquisition. The combined team is exceeding expectations associated with the Earthstone integration and is on track to reach key operational synergy run rates well ahead of the originally scheduled targets."