Permian Resources Corporation to acquire Core Delaware Basin Assets from Occidental for $817.5 million

Permian Resources Corporation has announced the strategic acquisition of approximately 29,500 net acres, ~9,900 net royalty acres, and ~15,000 Boe/d from Occidental for $817.5 million. This acquisition is expected to significantly expand Permian Resources Corporation's existing position in Reeves County, Texas, driving meaningful synergies and maximizing value for shareholders. Additionally, the acquisition is attractively valued, at approximately 3.4x 2025E EBITDAX1 and 17% free cash flow yield1, and expected to be accretive to all key per share metrics, including cash flow, free cash flow, and net asset value per share.