Permian Resources Corp (CDEV) is a publicly traded oil and natural gas exploration and production company. It is headquartered in Denver, Colorado, and focuses on the Permian Basin, one of the largest and most prolific oil-producing regions in the United States.
CDEV's operations include the acquisition, development, exploration, and production of oil and natural gas reserves. Its assets are primarily located in the Delaware Basin and Midland Basin of the Permian Basin.
The company's strategy is to maximize production and profitability by leveraging advanced drilling technologies, optimizing well completions, and managing costs. It also aims to maintain financial flexibility and a strong balance sheet to fund future growth opportunities.
As of September 30, 2021, CDEV had estimated proved reserves of approximately 137 million barrels of oil equivalent (BOE), consisting of approximately 63% oil and 37% natural gas. The company's daily production for the third quarter of 2021 averaged approximately 38,600 BOE per day, of which approximately 61% was oil and 39% was natural gas.
CDEV's common stock is traded on the New York Stock Exchange (NYSE) under the ticker symbol "CDEV."
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