Permian Resources Corporation

Permian Resources Corporation is an independent oil and natural gas company that focuses on developing crude oil and associated liquids-rich natural gas reserves in the United States. Its primary assets are concentrated in the Delaware Basin, which is a sub-basin of the Permian Basin, one of the most prolific oil-producing regions in the country. The company's operations are centered on acreage blocks located in Reeves County in West Texas and Lea County in New Mexico. By targeting these resource-rich areas, Permian Resources aims to efficiently extract and produce hydrocarbons, contributing to the domestic energy supply.

Permian Resources Corporation is listed on the New York Stock Exchange (NYSE) under the ticker symbol PR. The company's shares are traded in US Dollars (USD), reflecting its primary operations and headquarters in the United States. As a publicly traded company on the NYSE, it is subject to the regulatory oversight of the U.S. Securities and Exchange Commission (SEC) and must comply with the exchange's listing standards. Investors can buy and sell PR shares through brokerage accounts that have access to the NYSE.

Permian Resources Corporation operates in the Energy sector, specifically within the Oil & Gas E&P (Exploration and Production) industry. This means the company is primarily engaged in the exploration, development, and production of crude oil and natural gas. As an E&P company, its core activities include identifying potential drilling sites, drilling wells, and extracting hydrocarbons from underground reservoirs. The company's focus on the Delaware Basin highlights its specialization in unconventional resource plays, where advanced drilling and completion techniques are used to access oil and gas trapped in tight rock formations.

Permian Resources Corporation is headquartered in Midland, Texas, which is located in the heart of the Permian Basin. The company was incorporated in 2015 and was originally known as Centennial Resource Development, Inc. before rebranding to Permian Resources Corporation in September 2022. This name change reflects the company's strategic focus on the Permian Basin, particularly the Delaware Basin. The headquarters in Midland places the company close to its core operating areas in West Texas and southeastern New Mexico, allowing for efficient management of its assets and operations.

Permian Resources Corporation generates revenue by producing and selling crude oil, natural gas, and natural gas liquids. As an independent exploration and production company, it focuses on developing its acreage in the Delaware Basin, a key sub-basin of the Permian Basin. The company's business model involves acquiring and leasing mineral rights, drilling wells, and using advanced technologies such as horizontal drilling and hydraulic fracturing to maximize recovery from its reservoirs. By concentrating its operations in a geographically contiguous area, Permian Resources can achieve operational efficiencies and reduce costs. The company sells its production to various customers, including refiners, marketers, and other end-users, with pricing tied to benchmark indices like West Texas Intermediate (WTI) for crude oil.