Permian Resources Corporation is an oil and gas exploration and production company focused on the Permian Basin.
Permian Resources Corporation is a prominent independent oil and natural gas company specializing in the strategic development of crude oil and liquids-rich natural gas reserves across the United States. Focused primarily on the prolific Delaware Basin, a sub-basin of the larger Permian Basin, the company holds extensive acreage in Reeves County, West Texas, and Lea County, New Mexico. These properties are strategically positioned to capitalize on the region's abundant hydrocarbon resources.
As of December 31, 2021, Permian Resources Corporation has secured approximately 73,675 net acres through leases and acquisitions, further complemented by ownership of 991 net mineral acres within the Delaware Basin. This substantial acreage provides a robust foundation for the company's ongoing exploration and development initiatives, aimed at maximizing production efficiencies and enhancing shareholder value in the dynamic energy market.
Originally incorporated in 2015 under the name Centennial Resource Development, Inc., the company rebranded to Permian Resources Corporation in September 2022. Headquartered in Midland, Texas, Permian Resources Corporation benefits from a strategic location amidst one of the most significant oil-producing regions in the United States. With a commitment to operational excellence and sustainable growth, the company continues to navigate industry challenges and leverage its expertise to drive innovation in oil and gas exploration and production.