CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Permian Resources Q3 production rises 22% on acquisitions and cost control

By Reuters News


Overview

  • U.S. oil and gas producer's Q3 total production rose 22% quarter-over-quarter, oil up 5%

  • Company generated $846 mln in adjusted free cash flow for Q3

  • Company completed Ridge Runner Resources acquisition and other bolt-on deals


Outlook

  • Permian Resources raises 2026 oil production guidance to 201,000–204,000 Bbls/d

  • Company updates 2026 capital expenditures guidance to $1.975–$2.075 bln

  • Permian Resources expects Q4 oil production of over 210 MBbls/d


Result Drivers

  • HIGHER PRODUCTION - Co said increased oil, NGL and gas volumes drove Q3 results, aided by bringing high-GOR wells back online and maximizing output amid elevated prices

  • COST CONTROL - Co attributed lower unit costs to operational efficiencies, including power and compression optimization and reduced G&A expenses

  • ACQUISITIONS - Co said recent acquisitions expanded production capacity and inventory in the Delaware Basin


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Cash Capital Expenditures

$518 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 24 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Permian Resources Corporation is $28.00, about 16.7% above its November 3 closing price of $24.00

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Nov 2 - Diamondback Energy Q3 revenue beats on higher oil output

  • Nov 3 - Matador Q3 adjusted EPS and net income beat estimates on record production

  • Nov 3 - Ovintiv Q3 profit rises on higher energy prices, lower costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.