Midland-based Permian Resources said last month its average daily crude oil production in 2022Q3 increased to 48,499 barrels (33,529 barrels a year ago) and 92,003 boed (65,121 boed a year ago). Permian Resources was formed Sept. 1 with the merger of Delaware Basin assets of Centennial Resources and Colgate Energy. The company operated 8 drilling rigs and 3 frac crews in 2022Q3 to spud 36 wells and complete 38 wells. Capital expense in Q3 was $198.9 million. Enverus said the company reduced its rig count to 7 in November and is considering further reductions in 2023.
Will Hickey, co-CEO, said Nov. 8, “With the merger complete and integration progressing smoothly, the team has accelerated the implementation of operational best practices… During the quarter our operations team produced strong well results… We remain on-track to achieve our 2022Q4 and fullyear targets.”