Permian Resources Corporation has announced a partial redemption of its 9.875% Senior Notes due in 2031. The company's subsidiary, Permian Resources Operating, LLC, issued a notice for the redemption scheduled for January 24, 2025. On this date, an aggregate principal amount of $175 million of these notes will be redeemed according to the indenture governing them.
The redemption price is set at 109.875% of the principal amount plus any accrued and unpaid interest up to, but not including, the redemption date. Post-redemption, $325 million in principal amount of the notes will remain outstanding.
Permian Resources is based in Midland, Texas and focuses on acquiring and developing oil and natural gas properties primarily in the Delaware Basin. It ranks as the second-largest pure-play exploration and production company in the Permian Basin.
The announcement includes "forward-looking statements" concerning various factors that could impact future outcomes. These include commodity price volatility, geopolitical events affecting oil-producing regions, business strategies, financial plans, regulatory changes related to climate change, and potential impacts from ongoing conflicts such as those in Ukraine and Israel.
The company emphasizes that these forward-looking statements are subject to risks beyond their control and cautions that actual results may differ materially from expectations if underlying assumptions prove incorrect or if certain risks materialize.
Hays Mabry serves as Vice President of Investor Relations for Permian Resources and can be contacted at (432) 315-0114 or via email at ir@permianres.com.