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Permian Resources Corporation functions as an independent enterprise focused on the exploration and extraction of crude oil and related liquids-rich natural gas reserves across the United States. Its operational base is primarily situated within the Delaware Basin, which is a key sub-basin of the expansive Permian Basin. The company's land assets encompass acreage blocks predominantly located in Reeves County, West Texas, and Lea County, New Mexico. By the end of 2021, specifically December 31st, it managed approximately 73,675 net acres through leasing or acquisition, and additionally owned 991 net mineral acres, all within the productive Delaware Basin. The firm was originally incorporated in 2015 and traded under the name Centennial Resource Development, Inc. before officially changing to Permian Resources Corporation in September 2022. Its corporate headquarters are located in Midland, Texas.
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