Permian Resources Q1 net income rises to $329 million; agrees $608 million APA deal
Permian Resources reported first-quarter 2025 results showing higher oil and gas sales and net income attributable to Class A shares than a year earlier, and lowered the midpoint of its 2025 capital budget by $50 million. The company also agreed to buy APA Corporation's Northern Delaware Basin assets for $608 million, which is not included in its revised standalone guidance.
Key points
- Oil and gas sales were $1.38 billion for Q1 2025, up from $1.24 billion a year earlier; net income attributable to Class A Common Stock was $329 million, up from $147 million, and diluted EPS was $0.44 versus $0.25.
- Cash capital expenditure guidance was narrowed to $1.9 billion to $2.0 billion from $1.9 billion to $2.1 billion, while oil and total production guidance ranges were maintained.
- The APA acquisition covers about 13,320 net acres and is expected to add about 12,000 Boe/d in the second half of 2025; it is expected to close by the end of the second quarter of 2025.
- The board declared a $0.15 per share second quarter base dividend, and the company repurchased 4.1 million shares for $43 million in April at a weighted average price of $10.52.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2025.
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