Permian Resources Corporation announced the pricing of an underwritten public offering of 26,500,000 shares of its Class A Common Stock at $15.30 per share. Concurrently, Permian Resources Operating, LLC plans to offer $750 million in senior unsecured notes due 2033 in a private placement.
The proceeds from these offerings will help fund the acquisition of oil and gas properties from Occidental Petroleum Corporation, expected to close in Q3 2024. If the acquisition does not complete, proceeds will be used for general corporate purposes.
Goldman Sachs & Co. LLC and Morgan Stanley are underwriting the equity offering, which is expected to close on July 30, 2024.
The equity offering is made pursuant to a registration statement filed with the SEC on May 24, 2024. Copies of relevant documents can be obtained from Goldman Sachs or Morgan Stanley or accessed via the SEC’s website.
This announcement does not constitute an offer to sell or buy securities in any jurisdiction where such actions would be unlawful without proper registration.
Permian Resources is based in Midland, Texas and focuses on acquiring and developing high-return oil and natural gas properties in the Delaware Basin.
Forward-looking statements in this release are subject to risks detailed in Permian Resources’ filings with the SEC. The company disclaims any duty to update forward-looking statements except as required by law.
For further information:
Hays Mabry – Vice President, Investor Relations
(432) 315-0114
ir@permianres.com