Permian Resources announces public offering at $15.76 per share
Investing.com | Editor Ahmed Abdulazez Abdulkadir
Published Mar 04, 2024 10:28AM ET
MIDLAND, Texas - Permian Resources Corporation (NYSE: PR), an independent oil and natural gas company, has announced the pricing of a public offering of 48,500,000 shares of its Class A Common Stock at $15.76 each.
The shares are being offered by affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC, and certain company management members, collectively referred to as the Selling Stockholders.
The company itself is not selling any shares in this offering and will not receive any proceeds from it. In a related transaction, Permian Resources has agreed to buy 2,000,000 common units in Permian Resources Operating, LLC from some of the Selling Stockholders, coinciding with the offering's close. This purchase is contingent upon the offering's completion, which is expected on March 6, 2024, pending customary closing conditions.
Goldman Sachs & Co (NYSE:GS). LLC is acting as the underwriter for the offering, which is made under a registration statement that became effective on November 8, 2023. The offering is being conducted through a prospectus and related supplement, which are available from Goldman Sachs & Co. LLC and can also be accessed on the SEC's website.
Permian Resources focuses on acquiring, optimizing, and developing oil and natural gas properties, with its operations primarily in the Delaware Basin.
This news article is based on a press release statement from Permian Resources Corporation.
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