Permian Resources Corporation reported its financial results for the second quarter of 2025, revealing a total revenue of $1.2 billion, a decrease of 4% from $1.25 billion in the same period last year. The company's net income for the quarter was $245 million, down from $309 million in the prior year, resulting in earnings per share of $0.30 compared to $0.38. For the first half of 2025, total revenues increased to $2.57 billion, up 3% from $2.49 billion in the first half of 2024, with net income rising to $636 million from $539 million.
The company experienced significant operational changes, including a 15% increase in oil production, which reached 16.1 million barrels, and a 10% increase in natural gas production, totaling 60.5 million cubic feet. This growth was attributed to new wells coming online and acquisitions made since the previous year. However, the average realized price for oil fell by 22% to $62.71 per barrel, reflecting broader market conditions, while natural gas prices saw a substantial increase of 219%, reaching $0.50 per Mcf.
Strategically, Permian Resources completed a significant acquisition of approximately 13,000 net leasehold acres from Apache Corporation for $608 million, enhancing its asset base in New Mexico. The company also engaged in multiple smaller acquisitions totaling $43.6 million during the first half of 2025. In terms of capital management, the company declared and paid dividends totaling $241.6 million and repurchased $43.3 million worth of its Class A common stock.
Looking ahead, Permian Resources anticipates continued volatility in oil and natural gas prices, which could impact its financial performance. The company plans to fund its capital expenditures, projected between $1.92 billion and $2.02 billion for 2025, primarily through cash flows from operations. The company remains committed to returning capital to shareholders while managing its debt levels, which stood at $4 billion as of June 30, 2025, with no outstanding borrowings under its revolving credit facility.
About Permian Resources Corp
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