Permian Resources Announces Closing of Bolt-On Acquisition of Core Delaware Basin Assets

9/17/24 6:00:00 PM ET

Oil & Gas Production

Energy

Oil & Gas Production

Energy

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Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) today announced the closing of its previously announced acquisition of certain leasehold and royalty interests and related midstream infrastructure from Occidental (NYSE:OXY). The acquired assets consist of ~29,500 net acres, ~9,900 net royalty acres and substantial midstream infrastructure primarily located offset the Company's existing position in Reeves County, Texas.

About Permian Resources

Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. The Company's assets and operations are concentrated in the core of the Delaware Basin, making it the second largest Permian Basin pure-play E&P. For more information, please visit www.permianres.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240917919879/en/

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Recent Analyst Ratings for
$OXY
$PR

Company	Date	Price Target	Rating	Analyst
Permian Resources Corporation $PR	4/7/2026	$25.00	Overweight	KeyBanc Capital Markets
Permian Resources Corporation $PR	3/24/2026	$24.00	Buy	Truist
Occidental Petroleum Corporation $OXY	3/24/2026	$65.00	Hold	Truist
Occidental Petroleum Corporation $OXY	3/20/2026	$63.00	Underweight → Neutral	Analyst
Occidental Petroleum Corporation $OXY	3/12/2026	$66.00	Neutral → Overweight	Piper Sandler
Occidental Petroleum Corporation $OXY	3/12/2026	$69.00	Underweight → Overweight	Wells Fargo
Permian Resources Corporation $PR	3/5/2026		Buy → Hold	The Benchmark Company
Occidental Petroleum Corporation $OXY	1/21/2026		Equal Weight	Barclays

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