Permian Resources Raises 2026 Oil Output Guidance After 3% Q2 Production Jump
PR sits 68% above its 52-week low of $11.92.
Summary
Permian Resources delivered a 3% sequential increase in Q2 oil production and raised its full-year 2026 oil output guidance midpoint to 199,000 barrels per day. The company also completed 190 bolt-on acquisitions during the quarter, adding 54,000 net acres for $1.05 billion. Capital spending is now guided to $1.9–$2.0 billion for the year, with H2 production expected above 200,000 barrels per day on less than $1 billion in capex. The improved outlook reflects higher working interest in completions, a 50% jump in workover activity, and curtailment of low-margin natural gas volumes. This follows a Q1 that saw sharply lower net income due to derivative losses, making the operational beat and guidance raise a meaningful positive signal for free cash flow generation.
At the time of this announcement, PR was trading at $20.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $16.6B. The 52-week trading range was $11.92 to $22.68. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.