Midland-based Permian Resources Corporation has reported strong financial and operational results for the third quarter of 2025. The company highlighted record production, cost reductions, and improved balance sheet performance.
According to a news release from Permian Resources, the company has increased its full-year oil and total production guidance. This decision is supported by continued strong well performance and operational efficiencies in the Delaware Basin. For the quarter, Permian Resources reported total average production of 410,200 barrels of oil equivalent per day (Boe/d), including 186,900 barrels of oil per day (Bbls/d), marking a 6% increase over the previous quarter. Cash provided by operating activities reached $766 million, with adjusted free cash flow totaling $469 million. The company declared a quarterly dividend of $0.15 per share, representing a 4.8% annualized yield, and reduced drilling and completion costs to approximately $725 per lateral foot, an 11% year-over-year improvement.
Co-CEOs Will Hickey and James Walter emphasized that the company’s focus on efficiency and disciplined capital allocation continues to deliver value for shareholders. “Strong well performance and continued cost reductions drove another step-change in capital efficiency,” Hickey said. Walter added that the company’s “fortress balance sheet” and flexible capital strategy support its long-term goal of maximizing free cash flow per share across cycles.
Permian Resources also strengthened its financial position by reducing debt by $460 million during the quarter while maintaining liquidity exceeding $2.6 billion. The company executed approximately 250 bolt-on and grassroots transactions, adding 5,500 net leasehold acres and 2,400 royalty acres primarily in New Mexico. Looking ahead, Permian Resources expects to benefit from improved natural gas pricing, with about 75% of its 2026 gas volumes priced at Gulf Coast and Dallas-Fort Worth markets or hedged.