Permian Resources Corporation Class A (PR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Permian Resources first quarter 2026 earnings conference call. Today's call is being recorded and a replay of the call will be accessible until May 20th, 2026 by dialing 800-770-2030 and entering the replay access code 1 4 4 2 2 9 8. or by visiting the company's website at www.permiumres.com. It is now my pleasure to turn the call over to Hayes Mabry, Permium Resources Vice President of Investor Relations, for opening remarks. Please go ahead. Hayes Mabry Thank you, Amy, and thank you all for joining us. On the call today are Will Hickey and James Walter, our Chief Executive Officers. and Guy Oliphant, our Chief Financial Officer. Many of the comments during this call are forward-looking statements that involve risk and uncertainties that could affect our actual results and are discussed in more detail in our filings with the SEC. We may also refer to non-GAAP financial measures. For any non-GAAP measure we use, A reconciliation to the nearest corresponding gap measure can be found in our earnings release or presentation. With that, I will turn the call over to Will Hickey, co-CEO. Thanks, Hayes. Q1 represented another quarter of strong operational execution, delivering free cash flow per share of 60 cents, the highest in PR history. In addition, we set records on both drilling and completion cost per foot, continue to deliver peer-leading controllable cash costs and accelerated oil production volumes in response to higher oil prices in March. I'd note that the current market volatility reinforces what has always been core to the Permian Resources Strategy. Maintain a peer-leading cost structure, stay singularly focused on the Delaware Basin, the best onshore shale basin in the U.S., and preserve the flexibility as market conditions ch...