Permian Resources Corp. announced an underwritten public offering of 21.45 million shares of its Class A common stock at $13.05 per share by affiliates of NGP Energy Capital Management LLC in two separate Sept. 19 press releases.
The Midland-based Permian Resources will not receive proceeds from the stock offering, according to the statement from the company.
Underwriters have a 30-day option to purchase up to a little more than 3.2 million shares of Class A common stock at the public offering price, less underwriting discounts and commissions.
Permian Resources also agreed to purchase from the selling stockholders an aggregate 2,200,000 common units representing limited liability company interests in Permian Resources Operating LLC, a Delaware limited liability company and a subsidiary of Permian Resources.
J.P. Morgan Securities LLC, BofA Securities Inc. and Truist Securities Inc. are serving as joint book-running managers. Barclays Capital Inc., Capital One Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC are also serving as joint book-running managers. PNC Capital Markets LLC, U.S. Bancorp Investments Inc., Fifth Third Securities Inc., Comerica Securities Inc., Regions Securities LLC, CIBC World Markets Corp. and BOK Financial Securities Inc. are serving as co-managers for the offering.
Recommended Reading
LNG Sector Under Fire as Activists’ Lawsuits Surge
2024-10-10 - ESG litigation is increasingly affecting the LNG industry while, more broadly, nearly 70% of climate-related cases are filed in the U.S.
Construction on Kinder Morgan’s Tennessee Pipeline Delayed by Stay
2024-10-15 - An appeals court panel put two permits on hold for Kinder Morgan’s pipeline to consider the project’s implications on the Clean Water Act.
New FERC Commissioner Calls Slow Permitting Process ‘Huge Problem’
2024-09-17 - FERC Commissioner David Rosner said the commission is aware that the permitting process is too slow overall at Gastech Houston 2024.
Supreme Court Takes Up Clean Air Act Venue Fight
2024-10-21 - The high court’s justices will hear arguments if the EPA’s air pollution rules should be challenged in D.C. or in regional courts.
NextDecade CEO: LNG Ruling Risks Viability of All FERC Projects
2024-08-14 - NextDecade Chairman and CEO Matt Schatzman said an Aug. 6 ruling by the U.S. Court of Appeals for the D.C. Circuit to vacate its FERC permit has “far-reaching implications” that could undercut capital investment in LNG projects.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.