Permian Resources (PR) Reports $1.94 Free Cash Flow Per Share on Record Low D&C Costs

Permian Resources Corporation (NYSE:PR) is one of the most promising stocks under $20. On February 26, Permian Resources reported financial results for 2025, highlighting an 18% year-over-year increase in free cash flow per share to $1.94. The company exceeded its oil production guidance by 5%, averaging 188.6 thousand barrels of oil per day in Q4. Management attributed this success to a highly repeatable business model focused on the Delaware Basin, which saw drilling & completion/D&C costs drop to a record low of $700 per foot.

The company’s strategy for 2026 focuses on doing more with less, guiding to a 5% increase in total production despite a $120 million reduction in capital expenditures. Key to this plan is a further reduction in D&C costs to an anticipated $675 per foot, a 20% decrease compared to 2024 levels. Permian Resources also addressed regional infrastructure constraints by reducing its exposure to ‘Waha’ gas pricing. Through new midstream agreements, Permian Resources Corporation (NYSE:PR) expects its gas realizations to shift from a $0.4 discount to a $0.5 premium relative to Waha benchmarks in 2026.

Permian Resources maintained an aggressive ground game in acquisitions, closing ~700 transactions in 2025 totaling $1.1 billion. These deals added 250 high-rate-of-return locations, ensuring that the company acquired more inventory than it drilled for the third consecutive year.

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company that develops crude oil and associated liquids-rich natural gas reserves in the US. The company’s assets primarily focus on the Delaware Basin, which is a sub-basin of the Permian Basin.

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