HighGravityDataPermian Resources — Oct 31, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001658566-24-000105
Showing in the filing
Total production (mid-point)
“341.0 MBoe/d”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 18
Quarterly base dividend for Q4 FY2024
“$0.15 per share”
Credit rating target for FY2025
“investment grade credit ratings in 2025”
Oil and total production mid-point for FY2024
“158.5 MBbls/d and 341.0 MBoe/d”
Oil production (mid-point) for FY2024
“158.5 MBbls/d”
Total production (mid-point) for FY2024
“341.0 MBoe/d”
TILs (turn-in-lines) for FY2024
“approximately 270 gross wells”
Quarterly base dividend
“$0.15 per share of Class A common stock, or $0.60 per share on an annualized basis”
Annualized base dividend
“$0.60 per share”
Net average daily production (Boe/d) for FY2024
“340,000 — 342,000”
Net average daily oil production (Bbls/d) for FY2024
“158,000 — 159,000”
Lease operating expenses ($/Boe) for FY2024
“$5.50 — $6.00”
Gathering, processing and transportation exp… for FY2024
“$1.00 — $1.50”
Cash general and administrative ($/Boe) for FY2024
“$0.90 — $1.10”
Severance and ad valorem taxes (% of revenue) for FY2024
“6.5% — 8.5%”
Total cash capital expenditure program ($MM) for FY2024
“$1,900 — $2,100”
Operated drilling program TILs (gross) for FY2024
“~270”
Average working interest for FY2024
“~75%”
Average lateral length (feet) for FY2024
“~9,300”
Exhibit 99.1 · the passage around this item
… earlier in the release
Net debt-to-LQA EBITDAX 1 at September 30, 2024 was approximately 1x. 2024 Operational Plan and Target Update Permian Resources increased its 2024 oil production target by 6.5 MBbls/d to 158.5 MBbls/d and raised its total production target by 16.0 MBoe/d to 341.0 MBoe/d, based on the mid-point of guidance. The majority of the increase in full year production guidance is driven by continued strong well performance and operational efficiencies, with the balance coming from the recently closed Barilla Draw acquisition. The Company is also adjusting the expected number of turn-in-lines (“TILs”) for 2024 to approximately 270 gross wells, as a result of faster cycle times. There are no other changes to the Company’s guidance ranges. “This represents our third consecutive increase to full year production targets, while maintaining our original capital expenditure guidance,” said James Walter, Co-CEO. “Most importantly, the vast majority of our increase year-to-date has been driven by outperformance of our base business, highlighting the quality of our asset base.” (For a detailed table summarizing Permian Resources’ revised 2024 operational and financial guidance, please see the Appendix of this press release.) Shareholder Returns Permian Resources announced today that its Board of Directors (the “Board”) declared a quarterly base dividend of $0.15 per share of Class A common stock, or $0.60 per share on an annualized basis. This represents the first qu
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.