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Permian Resources Q2 Revenue Reaches $1.86B, Exceeds Expectations

Reportst Q2 revenue $1.86B, consensus $1.67B. "This was an exceptional quarter for Permian Resources. Our team executed a targeted response to higher oil prices, increasing capital expenditures to focus on high-return, rapid payback projects such as workovers," said Will Hickey, Co-CEO of Permian Resources. "Additionally, the success of our ground game increased working interest in both second quarter and full year TILs, which allows us to increase production in the near-term while utilizing the same drilling rigs and completion crews. Overall, these efforts produced higher free cash flow than originally anticipated during the quarter."