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Permian Resources closes $520 million Ward County acquisition
The deal adds about 2,000 net acres and 5,000 Boe per day, supporting 2026 output guidance of 199,000 bpd and record Q2 free cash flow of $751 million.
Permian Resources Corp. (NYSE: PR) has closed an acquisition in Ward County for $520 million, adding approximately 2,000 net acres and 5,000 barrels of oil equivalent per day, according to Yahoo Finance.
The company expects its updated 2026 oil output guidance to reach 199,000 bpd, a target that is 10% higher than 2025. Permian Resources also said it expects to hit the higher production level with about 1% lower spending versus last year, pointing to improving capital efficiency.
In the quarter ended in Q2 2026, Permian Resources reported record free cash flow of $751 million, up almost 50% sequentially, with free cash flow per share of $0.88. Oil production rose 3% sequentially, and the firm expects oil production to surpass 200,000 bpd this quarter and next.
Permian Resources has also completed additional acreage buying in the Delaware Basin this year, totaling about 55,000 net acres for approximately $1.05 billion. Yahoo Finance reports the company declared a dividend of $0.16 per share on August 5, with an annual dividend yield of 2.87%.