Midland’s Permian Resources last week increased its 2026 oil production target to 199,000 b/d based on mid-point of guidance (10 percent more than 2025) and adjusted its cash capital expenditures to a range of $1.9 billion to $2.0 billion. Co-CEO James Walter said increased production will come from “less capital than we spent in 2025.”
The announcement Aug. 5 said, “As a pure-play Delaware Basin operator, the company and team are able to focus strategy on the single best U.S. shale basin, developing faster insights, more institutional knowledge and a scaled and proprietary dataset – all of which support the evaluation of potential transactions… The successful execution of this strategy has enabled the company to grow from zero net acres and zero production when its predecessor Colgate Energy was founded in 2015 to more than 500,000 net acres and approximately 200,000 b/d of oil production today.”