# Permian Resources: Delaware Basin Operator Guide for Mineral Owners

**TL;DR:** Permian Resources is a Delaware Basin pure-play oil and gas operator formed from the 2022 merger of Centennial Resource Development and Colgate Energy. Headquartered in Midland, Texas, the company focuses exclusively on developing the Wolfcamp and Bone Spring formations across West Texas and New Mexico. Mineral owners who previously received royalties from Centennial or Colgate now receive payments from Permian Resources under unchanged lease terms.

## Key Takeaways

- **Pure-play Delaware Basin focus** — Permian Resources concentrates 100% of operations in the Delaware Basin, primarily targeting Wolfcamp A, B, C and Bone Spring formations
- **2022 merger origin** — Company formed through merger of Centennial Resource Development and Colgate Energy; former mineral owners of either company now receive payments from Permian Resources
- **Core operating counties** — Primary operations in Reeves, Pecos, Ward, and Loving counties (Texas) plus Lea and Eddy counties (New Mexico)
- **Multi-zone development strategy** — Targets multiple stacked pay zones per drilling location, maximizing resource recovery from existing acreage
- **Midland headquarters advantage** — Local presence in the heart of the Permian Basin provides operational expertise and regional knowledge
- **Lease terms unchanged** — Mineral owners affected by the merger retained original lease terms, though owner identification numbers may have changed
- **Active development program** — Maintains consistent drilling operations across Delaware Basin acreage

## Page Highlights

**Company Overview** — Permian Resources trades on NYSE under ticker PR and operates as an independent E&P company with exclusive Delaware Basin focus. Formed in 2022, the company represents one of the largest pure-play Delaware operators headquartered in Midland, Texas.

**Operating Geography** — Company operates exclusively in the Delaware Basin portion of the Permian, with core positions in six West Texas and New Mexico counties. All operations target oil-rich Wolfcamp and Bone Spring formations across multiple bench zones.

**Merger Background** — The 2022 Centennial-Colgate merger created Permian Resources, consolidating two Delaware Basin operators. Mineral owners previously dealing with either legacy company now interact with a single entity while retaining original lease agreements.

**Advantages for Mineral Owners** — Delaware Basin specialization means focused expertise and resources in one of America's most prolific oil regions. Active drilling programs and multi-zone targeting provide ongoing development potential. Local Midland presence offers accessible regional management.

**Considerations** — As a relatively new merged entity, some operational systems may still be standardizing. Single-basin geographic concentration means less diversification compared to multi-basin operators. Former Centennial and Colgate owners may have experienced administrative transitions.

**Owner Contact Information** — Mineral owners can reach the company at (432) 221-7530 or via mail at 300 N. Marienfeld St., Suite 1000, Midland, TX 79701.

## Related Topics

- [Delaware Basin Mineral Rights](https://www.buckheadenergy.com/operators/permian-resources) — Regional overview of Delaware Basin mineral ownership
- [Reeves County Mineral Rights](https://www.buckheadenergy.com/operators/permian-resources) — County-specific information for core Permian Resources operating area
- [Top Oil & Gas Operators Guide](https://www.buckheadenergy.com/operators/permian-resources) — Comprehensive operator comparison resource
- [Diamondback Energy Guide](https://www.buckheadenergy.com/operators/permian-resources) — Profile of another major Delaware Basin operator
- [Devon Energy Guide](https://www.buckheadenergy.com/operators/permian-resources) — Information on multi-basin operator with Delaware presence
- [Dealing with Oil & Gas Operators](https://www.buckheadenergy.com/operators/permian-resources) — Best practices for mineral owner-operator relations

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