HighGravityDataPermian Resources — Feb 25, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001658566-25-000008
Showing in the filing
Annual oil and total production growth
“~8%”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 35
Annual oil and total production growth for FY2025
“~8%”
Total cash capital expenditure budget for FY2025
“$1.9 to $2.1 billion”
Total controllable cash costs for FY2025
“$7.25 to $8.25 per Boe”
Capital budget versus 2024 for FY2025
“approximately $2 billion capital budget”
Crude oil and total average production for FY2025
“170 to 175 MBbls/d and 360 to 380 MBoe/d”
Crude oil average production for FY2025
“170 to 175 MBbls/d”
Total average production for FY2025
“360 to 380 MBoe/d”
Cash capex allocation to drilling and comple… for FY2025
“approximately 80%”
Cash capex allocation to facilities, infrast… for FY2025
“20%”
Turn-in-line (TIL) wells for FY2025
“approximately 285 gross wells, with an average working interest of approximately 75% and 8/8ths net revenue interest of approximately 79%”
Turn-in-line gross wells (TILs) for FY2025
“approximately 285”
Average working interest for FY2025
“approximately 75%”
8/8ths net revenue interest for FY2025
“approximately 79%”
Average completed lateral length for FY2025
“approximately 10,000 feet”
D&C costs per foot reduction for FY2025
“approximately 8% reduction”
Operating activity allocation - New Mexico for FY2025
“approximately 65%”
Operating activity allocation - Texas Delawa… for FY2025
“approximately 30%”
Lease operating expenses (LOE) component of … for FY2025
“approximately $5.55 per Boe”
Gathering, processing and transportation (GP… for FY2025
“$1.30 per Boe”
Cash G&A component of controllable cash costs for FY2025
“$0.90 per Boe”
Oil realizations for FY2025
“98% to 100% of WTI”
Oil realizations as percentage of WTI for FY2025
“98% to 100% of WTI”
Estimated average realized revenue from natu… for FY2025
“approximately $0.30 to $0.50 per Mcf less than Waha Hub pricing”
Estimated NGL price (% of WTI) for FY2025
“approximately 27% to 30% of WTI”
NGL realizations as percentage of WTI for FY2025
“approximately 27% to 30% of WTI”
Base dividend for Q1 FY2025
“$0.15 per share of Class A common stock, or $0.60 per share on an annualized basis”
Annualized base dividend
“$0.60 per share”
Net average daily production (Boe/d) for FY2025
“360,000 — 380,000”
Net average daily oil production (Bbls/d) for FY2025
“170,000 — 175,000”
Lease operating expenses ($/Boe) for FY2025
“~$5.55”
Gathering, processing and transportation exp… for FY2025
“~$1.30”
Cash general and administrative ($/Boe) for FY2025
“~$0.90”
Severance and ad valorem taxes (% of revenue) for FY2025
“6.5% — 8.5%”
Total cash capital expenditure program ($MM) for FY2025
“$1,900 — $2,100”
Operated drilling program TILs (gross) for FY2025
“~285”
Exhibit 99.1 · the passage around this item
… earlier in the release
Fourth Quarter 2024 Financial and Operational Highlights • Reported crude oil and total average production of 171.3 MBbls/d and 368.4 MBoe/d • Announced cash capital expenditures of $504 million, cash provided by operating activities of $872 million and adjusted free cash flow 1 of $400 million • Reduced D&C costs to ~$775 per lateral foot • Announced the divestiture of Barilla Draw natural gas and oil gathering systems for $180 million • Added ~2,100 net acres through >90 grassroots transactions for ~$3,900 per net acre, demonstrating continued ground game success • Declared base dividend of $0.15 per share, representing 4.3% yield • Maintained strong balance sheet with leverage of 0.95x and total liquidity of ~$3.0 billion Full Year 2024 Financial and Operational Highlights • Reported crude oil and total average production of 159.2 MBbls/d and 343.5 MBoe/d, an increase of 63% and 77% compared to the prior year • Generated cash provided by operating activities of $3.4 billion and adjusted free cash flow 1 of $1.4 billion • Realized significant operational efficiency gains, resulting in reduced cycle times and lower well costs ◦ Reduced D&C per foot costs by 14% year-over-year • Replaced >100% of drilled inventory through accretive M&A for second consecutive year • Increased quarterly base dividend from $0.05 to $0.15 per share 2025 Financial and Operational Plan • Announced highly capital efficient operating plan underpinned by consistent well performance, lower well costs and peer leading controllable cash costs ◦ Crude oil and total average production guidance of 170 to 175 MBbls/d and 360 to 380 MBoe/d ▪ Represents ~8% higher annual production compared to full year 2024 ◦ Total cash capital expenditure budget of $1.9 to $2.1 billion ◦ Total controllable cash costs of $7.25 to $8.25 per Boe Management Commentary “Permian Resources had another outstanding year in 2024, and we could not be more proud of our team for everything they accomplished last year,” said Will Hickey, Co-CEO of Permian Resources. “With our low cost structure serving as the foundation, Permian Resources delivered peer leading per share growth during 2024, which helped generate a superior total return for our shareholders.” “We are excited to announce our 2025 plan, which is highlighted by 8% higher annual production and no change to our approximately $2 billion capital budget from 2024. This improved year-over-year capital efficiency is driven by our consistent development approach and significantly lower cost structure,” said James Walter, Co-CEO of Permian Resources. “Most importantly, our 2025 plan allows us to generate more free cash flow than 2024, maximizing value for shareholders.” Financial and Operational Results Permian Resources continued the efficient development of its core Delaware Basin acreage position in the f
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.