Permian Resources Announces Portfolio Optimization Transactions - Seite 2

Recent Non-Core Divestiture

In the fourth quarter of 2023, Permian Resources closed the previously announced divestiture of legacy Earthstone’s Eagle Ford assets for a purchase price of $67 million, which included approximately 1,000 barrels of oil equivalent per day of net production.

Full Year 2023 Acquisition & Divestiture Review

Since the beginning of 2023, Permian Resources remained active in high-grading its portfolio through a series of bolt-on acquisitions (3), acreage swaps (2), grassroots acquisitions (>140) and non-core divestitures (2). Overall, Permian Resources’ robust portfolio optimization efforts added approximately 17,000 Permian net acres, 7,300 Permian net royalty acres and over 200 high-quality, gross operated locations in the core of the Delaware Basin. The cumulative effect of these transactions resulted in the Company replacing over 100% of its developed inventory during 2023 on a standalone basis for less than $100 million net of divestitures.

Additionally, the combined net production impact attributable to the transactions discussed in this press release is expected to be immaterial to the Company’s 2024 production. Permian Resources plans to issue full year 2024 guidance concurrent with its fourth quarter and full year 2023 earnings results in late February. For maps and further details summarizing Permian Resources’ recent transactions, please see the presentation materials on its website under the Investor Relations tab.

About Permian Resources

Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. The Company’s assets and operations are concentrated in the core of the Delaware Basin, making it the second largest Permian Basin pure-play E&P. For more information, please visit www.permianres.com.

Cautionary Note Regarding Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “goal,” “plan,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.