A number of private equity firms will sell about 48.5 million shares of Permian Resources Corp.’s Class A common stock valued at about $764 million. (Source: Shutterstock)
Permian Resources Corp. said that affiliates of several private equity groups and company management plan to sell 48.5 million shares of Class A stock to the public at a price of $15.76 per share at a value of about $764 million.
Permian Resources is not selling any of its stock and will not receive any proceeds. Sellers include EnCap Investments LP, NGP Energy Capital Management LLC, Pearl Energy Investments and Riverstone Investment Group LLC.
Concurrent with the closing of the offering, Permian Resources has agreed to purchase from certain sellers an aggregate 2 million common units in Permian Resources Operating LLC, a Delaware limited liability company and a subsidiary of Permian Resources. The price per unit will be equal to the price per share of Class A common stock, $15.76.
Goldman Sachs & Co. LLC is serving as the underwriter for the offering. The offering is expected to close on March 6, subject to customary closing conditions.
Recommended Reading
Bridger Photonics Announces New CEO to Support Company Growth
2025-01-29 - Bridger Photonics announced Ben Little as the company’s new CEO in support of the growth Bridger has experienced with the growing market adoption of its methane detection solutions.
Envana Paints a Bigger Methane Picture by Combining Existing Data with AI
2025-01-28 - Envana Software Solutions, a joint venture between Halliburton Co. and Siguler Guff, has been awarded a $4.2 million grant from the U.S. Department of Energy to advance its AI methane detection solution.
Kissler: Can ‘Drill, Baby, Drill’ Trump Inventory, Capex Constraints?
2025-01-27 - President Trump continues to push E&Ps to “drill, drill, drill,” but producing an extra 3 MMbbl/d is easier said than done.
Belcher: Trump’s Policies Could Impact Global Energy Markets
2025-01-24 - At their worst, Trump’s new energy policies could restrict the movement of global commerce and at their best increase interest rates and costs.
Could Trump’s Ban on Wind Leasing Halt Similar Oil and Gas Sales?
2025-01-23 - A law signed during the Biden administration ties offshore wind lease sales to similar auctions for oil and gas rights on federal lands. It’s unclear whether President Trump’s Jan. 20 executive order to halt wind leasing could spill over into the E&P world.
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.