12 High Growth Oil Stocks to Buy

10. Permian Resources Corporation (NYSE:PR)

Revenue growth past 5 years: 28.49%

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company specializing in the acquisition, optimization, and development of energy assets. The company operates primarily in the Delaware Basin, a key part of the Permian Basin, with a significant footprint of 479,500 net leasehold acres and 94,900 net royalty acres.

Permian Resources Corporation (NYSE:PR) has made strategic moves in early 2025, reinforcing its focus on core Delaware Basin operations. In late 2024, the company announced plans to sell its midstream assets in Reeves County to Kinetik Holdings for $180 million, allowing it to streamline operations while retaining key water management infrastructure. The company also secured new drilling permits in Reagan County, Texas, targeting high-yield horizontal wells in the Spraberry Trend Area.

Permian Resources Corporation (NYSE:PR) reported Q3 2024 results on November 6, 2024, showcasing strong operational and financial performance. Net cash from operations totaled $954 million, with adjusted free cash flow of $303 million. Production increased to 160,801 barrels of oil per day, up 5% from Q2, driving total production to 347,100 barrels of oil equivalent per day. Improved operational efficiencies led to a 16% reduction in drilling cycle time, bringing drilling and completion costs down to $800 per lateral foot. Additionally, the company raised its quarterly dividend by 150% to $0.15 per share, highlighting a strategic shift in returning capital to shareholders.