5 Fastest Growing Energy Companies in the US

4. Permian Resources Corporation (NYSE:PR)

Year over Year growth rate 2023: +63.67%

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company focused on acquiring, optimizing, and developing oil and natural gas properties.

In the twelve months ending September 30, 2023, the company reported revenue of $2.76 billion, reflecting a substantial 63.67% year-over-year growth. Revenue for the quarter ending September 30, 2023, amounted to $758.54 million, demonstrating a 37.97% year-over-year growth.

In November of the previous year, Permian Resources Corporation (NYSE:PR) completed its acquisition of Earthstone Energy, Inc. in an all-stock transaction valued at approximately $4.5 billion, including Earthstone’s net debt. This acquisition significantly increased Permian Resources’ position in the Permian Basin by adding approximately 223,000 net acres, bringing the total to over 400,000 net acres, with pro forma production of approximately 300,000 barrels of oil equivalent per day. Additionally, the acquisition provided approximately 56,000 net acres of high-quality, stacked-pay reservoirs in the Delaware Basin, complementing Permian Resources’ existing acreage in Lea and Eddy Counties.