Permian Resources Bolt-On Assets From APA Corp

Transaction Details: 

Permian Resources announced a $608 million cash acquisition from APA Corporation, securing ~13,320 net acres and ~8,700 net royalty acres adjacent to its core New Mexico assets. 

The bolt-on provides ~12,000 Boe/d of production and over 100 high-NRI operated two-mile locations, with breakevens around $30/bbl WTI. The acquisition enhances near-term development visibility, increases capital efficiency, and provides opportunities to consolidate working interest and optimize operated units via acreage trades.

Bolt-On Transaction Highlights

• Acquired 13,320 net acres and 8,700 net royalty acres directly offset Permian Resources’ core New Mexico operating areas for $608 million

   

  • ~12 MBoe/d (~45% oil) of low decline production expected during second half of 2025
  • High NRI (average 83% 8/8^ths) enhances returns and bolsters PR’s existing royalty position
• Adds >100 new gross operated, two-mile locations with advantaged NRIs, which immediately compete for capital

   

  • Inventory scheduled for development in the near-term achieves an average breakeven of ~$30 per barrel WTI
• Significant industrial logic with clear path to outsized value creation

   

  • Majority of inventory located within PR’s existing Parkway asset in Eddy County, one of the Company’s most capital efficient assets
  • High-quality non-operated position provides PR the opportunity to add incremental value via its ground game
• Purchased at an attractive valuation, reflecting current market conditions

   

  • $12,500 per net acre, $6,000 per net royalty acre and $2 million per net location
  • Accretive to all key per share metrics