$PR · Permian Resources Corp
Permian Resources filed an 8-K (Items 2.02, 7.01, 9.01) announcing Q3 2026 results and revised 2026 guidance. Adjusted EPS was $0.69 (GAAP $0.49) on oil and gas sales of $1.96B. The company reported adjusted free cash flow of $846M, cash capex of $518M, and raised full-year oil production guidance to 202.5 MBbls/d. It also disclosed ~$1.15B in bolt-on acquisitions including the $1.025B Ridge Runner deal.
- Adjusted EPS of $0.69 vs GAAP $0.49 for Q3 2026.
- Adjusted free cash flow of $846M, up from Q2 despite lower oil prices.
- Total production rose 22% QoQ to 457.5 MBoe/d; oil up 5% to 208.0 MBbls/d.
- Raised full-year oil production guidance to 202.5 MBbls/d and capex midpoint to $2.025B.
- ~$1.15B in bolt-ons, including $1.025B Ridge Runner acquisition from EnCap.
Stock fell 6.54% in regular trading to $22.43 despite strong results; extended-hours last trade $22.44 (+0.04% vs close) shows no after-hours recovery.
A record free-cash-flow quarter paired with $1.15B in accretive bolt-ons and raised guidance signals strong execution, yet the stock sold off 6.5%.
Permian Resources continues aggressive Delaware Basin consolidation, adding ~24,000 net acres and 13,000 Boe/d via ~175 transactions, reinforcing its position as the second-largest Permian operator.
Ridge Runner earnout exposes the company to up to $125M in contingent payments if WTI averages above $70-$80/bbl in 2027-2028. Natural gas revenue remains volatile, swinging from negative to $53M on regional price recovery.