As the subjects of a feature spread in the July 2023 issue of Texas Monthly, Will Hickey and James Walter discuss their rapid-fire, data-driven ascent in the oil and gas business. Nothing unusual for a publication that regularly profiles the state’s movers and shakers. But in this case, Hickey and Walter are among the youngest players at 36 and 35, respectively, and unapologetic for their wild success in an industry largely eschewed by others their age. Together, they’ve made the Permian their center of gravity.

Reese Energy Consulting today is following the latest from Midland, Texas-based Permian Resources (PR) formed in 2015 by Hickey and Walter who serve as co-CEOs. The two grew up together in Dallas, sharing the street whose name they would later choose for their predecessor company, Colgate. In a $7 billion merger of equals last year between Colgate Energy and Centennial Resource Development, PR was born, claiming title as the largest pure-play E&P in the Delaware with 180,000 net acres, 40,000 net royalty acres, and 135 MBOED. Earlier this month, the company reported 2Q production of 165.85 MBOED and $623.39 million in revenues. The 2022 combination has indeed proved transformative but 2023 ain’t over yet.

Permian Resources has now announced its $4.5 billion acquisition of The Woodlands-based Earthstone Energy in a deal that doubles its Permian size, largely in the Delaware, to 400,000 acres with projected production of 300 MBOED. If you caught the Texas Monthly piece, you know what time it is. Pass the Shiner Bock.