Permian Resources Corporation Class A (PR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Permian Resources' conference call to discuss its second quarter 2026 earnings. Today's call is being recorded. A replay of the call will be available by visiting the company's website at www.permianres.com. At this time, I will now turn the call over to Hays Mabry, Permian Resources' Vice President of Investor Relations, for some opening remarks. Please go ahead. Thanks, Eldie, and thank you all for joining us. On the call today are Will Hickey and James Walter, our Chief Executive Officers, and Guy Oliphint, 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 GAAP measure can be found in our earnings release or presentation. With that, I will turn the call over to Will Hickey, Co-CEO. Thanks, Hays. Q2 is a standout quarter for Permian Resources. We delivered record free cash flow of $751 million, an increase of almost 50% quarter over quarter, and record free cash flow per share of $0.88. These results reflect our team's ability to respond quickly and decisively to a volatile commodity environment. Our activities this quarter are a reminder of the uniqueness of PR's business model. We can respond quickly to market conditions, we have a differentiated approach to sourcing and executing acquisitions, and we are relentlessly improving the capital efficiency of our business on a go-forward basis. All of these characteristics support the goal we are all aligned on, increasing free cash flow per share over the long term to create sharehold...