MIDLAND, Texas - Permian Resources Corporation (NYSE: PR), an independent oil and natural gas company, has announced the launch of an underwritten public offering of 48.5 million shares of its Class A Common Stock by certain affiliates and members of the company's management.
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 management members.
The company itself will not be selling any shares in this offering and will not receive any proceeds from it. The offering is being underwritten by Goldman Sachs & Co (NYSE:GS). LLC and is subject to market conditions. There is no guarantee regarding the completion or the terms of the offering.
In a related transaction, Permian Resources plans to purchase 2 million common units in Permian Resources Operating, LLC from some of the selling shareholders, contingent on the completion of the public offering.
These units will be purchased at a price equal to the per-share price in the public offering, and a corresponding number of Class C Common Stock shares held by the selling shareholders will be canceled.
The offering is being made according to a registration statement filed with the U.S. Securities and Exchange Commission (SEC) that became effective on November 8, 2023. Details of the offering will be available through a prospectus and prospectus supplement filed with the SEC.
Permian Resources, headquartered in Midland, Texas, focuses on acquiring, optimizing, and developing oil and natural gas properties, primarily in the Delaware Basin. The company cautions that this press release contains forward-looking statements, and actual events could differ materially from those anticipated.
This news is based on a press release statement and the offering is only available through a prospectus which can be obtained from Goldman Sachs & Co. LLC or the SEC's website. The sale of securities has not been approved in any jurisdiction where it would be unlawful without registration or qualification under the securities laws of that jurisdiction.
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