Permian Resources

Neither. Permian Resources is an independent oil and natural gas company publicly listed on the New York Stock Exchange under the ticker PR. It does not manage third-party or single-family capital; it is a corporate exploration and production (E&P) operator that finances its development program through operating cash flow, debt, and equity markets.

The company operates a fixed-plus-variable shareholder return model. It declared a quarterly base cash dividend of $0.16 per share in May 2026, and its capital-allocation framework prioritizes this distribution alongside a disciplined reinvestment rate to sustain its production base.

Permian Resources controls approximately 480,000 net leasehold acres concentrated in the Delaware Basin. It self-identifies as the second-largest pure-play E&P company in the broader Permian Basin, with the scale and contiguous acreage to run a multi-year development inventory without needing to acquire additional land.

All producing assets lie within the Delaware Basin, with core positions in Eddy and Lea Counties in New Mexico and Reeves and Ward Counties in Texas. The firm maintains zero operational exposure to other basins, making it a pure geographic bet on the Permian.

Today's Permian Resources was created in September 2022 through the all-stock merger of Centennial Resource Development and Colgate Energy. The combined company retained the Permian Resources name and NYSE listing, scaling into the second-largest pure-play operator in the Permian Basin overnight.

The company publishes an annual sustainability report and maintains an ESG program focused on emissions management and community investment in the Midland region. These initiatives are managed internally as corporate programming rather than through a separate foundation structure.

The firm pursues bolt-on and, when accretive, scaled acquisitions of producing properties and leasehold within the Delaware Basin. It integrates acquired acreage into its development schedule to extend its high-return inventory life, always with a view to maintaining balance-sheet conservatism and protecting the dividend.