• Permian Resources average gross margin for 2023 was 78.39%, a 0.29% decline from 2022.
• Permian Resources average gross margin for 2022 was 78.62%, a 12.56% decline from 2021.
• Permian Resources average gross margin for 2021 was 69.85%, a 6.92% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.