Name

Centennial Resource Development

Legal name

Permian Resources Corporation

Website

https://cdevinc.com

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Oil and Gas Extraction (2111), Crude Petroleum Extraction (21112), Natural Gas Extraction (211130)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH)

Keywords

• Oil and gas exploration
• Crude oil production
• Natural gas production
• Upstream energy operations
• Permian Basin operations

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Oil and Natural Gas Sales: Revenue generated from the sale of crude oil and natural gas produced from the company's exploration and development operations in the Delaware Basin. The company focuses on high-return oil and natural gas properties with the aim of delivering increased shareholder returns and free cash flow.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Centennial Resource Development (now operating as Permian Resources Corporation following its 2022 merger with Colgate Energy) is an independent oil and natural gas exploration and production company focused on the acquisition, optimization and development of high-return oil and natural gas properties in the Delaware Basin of the Permian Basin. The company holds approximately 480,000 net leasehold acres concentrated in Eddy and Lea Counties, New Mexico, and Reeves and Ward Counties, Texas, making it the second largest pure-play E&P in the Permian Basin.

Product overview

Permian Resources (formerly Centennial Resource Development following its 2022 merger with Colgate Energy) is a single, unified oil and natural gas exploration and production company operating in the Permian Basin. The company's primary offering is oil and natural gas exploration and development, with assets concentrated in the core of the Delaware Basin across approximately 480,000 net leasehold acres. As the second largest pure-play E&P in the Permian Basin, the company focuses on responsible acquisition, optimization and development of high-return oil and natural gas properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil and Natural Gas Exploration and Development Independent oil and natural gas company focused on the acquisition, optimization and development of high-return oil and natural gas properties in the Permian Basin, specifically the Delaware Basin. Customers are refiners, processors, transporters, and industrial purchasers of crude oil and natural gas commodities.

Quantifiable outcome

• Expected free cash flow in 2023 and strong balance sheet post-merger

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Matador Resources: Pure-play Delaware Basin E&P operating in the same Eddy and Lea County core area. Most direct smaller-cap comparable in terms of basin focus and pure-play structure.
• Diamondback Energy: Pure-play Permian Basin E&P with a major position in the Delaware and Midland sub-basins. Closely comparable to Permian Resources in scale, basin focus, and pure-play upstream model.
• EOG Resources: Large U.S. independent E&P with a significant Permian (Delaware) Basin position and a pure-play operating model. Directly comparable as a peer pure-play in the same core acreage fairway.
• Devon Energy: U.S. independent E&P with a top-tier Delaware Basin position and a multi-basin portfolio. Comparable as a Delaware-focused large-cap peer competing for the same acreage and takeaway.
• Coterra Energy: Independent E&P with substantial Delaware Basin (formerly Cabot) and Permian (formerly Cimarex) assets. Highly comparable operating footprint in the same New Mexico/Texas counties.
• Ovintiv: U.S. independent E&P with significant Permian Basin operations among its multi-basin portfolio. Comparable as a Permian-active peer with similar oil-and-gas production mix.

Broad incumbents

• Pioneer Natural Resources: Largest pure-play Permian Basin operator (now part of ExxonMobil). Sets the scale benchmark for Permian pure-plays and is the most direct incumbent peer against which Permian Resources' scale is measured.
• ConocoPhillips: Major global E&P with a large Permian position following the Marathon Oil acquisition. Comparable as a much larger incumbent competing for capital and acreage in the same basin.
• ExxonMobil: Global supermajor that acquired Pioneer Natural Resources to anchor a major Permian franchise. Functions as a broad incumbent peer with deep capital competing for the same Tier-1 acreage.
• Chevron: Global supermajor with a large Permian Basin position. Comparable as a broad incumbent whose capital base, midstream control, and development pace influence basin economics for pure-play peers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/centennial-resource-development-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Centennial Resource Development