Permian Resources Announces $500.0 Million Private Placement of Additional 7.000% Senior Notes Due 2032
07 Dicembre 2023 - 2:52PM
Business Wire
Permian Resources Corporation (“Permian Resources”) (NYSE: PR)
announced today that, subject to market conditions, Permian
Resources Operating, LLC (the “Issuer”), a subsidiary of Permian
Resources, intends to offer for sale in a private placement under
Rule 144A and Regulation S under the Securities Act of 1933, as
amended (the “Securities Act”), to eligible purchasers $500.0
million in aggregate principal amount of senior unsecured notes due
2032 (the “Notes”). The Notes are being offered as additional notes
under the indenture dated as of September 12, 2023, as may be
supplemented from time to time, pursuant to which the Issuer has
previously issued $500.0 million aggregate principal amount of
7.000% Senior Notes due 2032 (the “Existing Notes”). The Notes will
have substantially identical terms, other than the issue date and
issue price, as the Existing Notes, and the Notes and the Existing
Notes will be treated as a single series of securities under the
Indenture and will vote together as a single class. The Issuer
intends to use the net proceeds from this offering to repay all or
a portion of the amounts outstanding under its credit facility and
any remaining net proceeds for general corporate purposes.
The Notes have not been registered under the Securities Act, or
any state securities laws, and, unless so registered, the Notes may
not be offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. The Issuer plans to offer and sell the Notes
only to persons reasonably believed to be qualified institutional
buyers pursuant to Rule 144A under the Securities Act and to
persons outside the United States pursuant to Regulation S under
the Securities Act.
This communication shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the Notes, nor shall there
be any sale of the Notes in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Permian Resources
Headquartered in Midland, Texas, Permian Resources is an
independent oil and natural gas company focused on the responsible
acquisition, optimization and development of high-return oil and
natural gas properties. Permian Resources’ assets and operations
are concentrated in the core of the Delaware Basin.
Forward-Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of historical fact included
in this press release, regarding our strategy, future operations,
financial position, estimated revenues and losses, projected costs,
prospects, plans and objectives of management are forward-looking
statements. When used in this press release, the words “could,”
“may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,”
“project,” “goal,” “plan,” “target” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management’s current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Be cautioned that these forward-looking statements
are subject to all of the risk and uncertainties, most of which are
difficult to predict and many of which are beyond Permian
Resources’ control, incident to the development, production,
gathering and sale of oil and natural gas. These risks include, but
are not limited to, commodity price volatility, inflation, lack of
availability of drilling and production equipment and services,
risks relating to the Company’s ability to realize the anticipated
benefits and synergies of its merger with Earthstone Energy, Inc.
Actual results could differ materially from those anticipated in
these forward-looking statements as a result of certain factors,
including, but not limited to, those set forth in Permian
Resources’ filings with the U.S. Securities and Exchange Commission
(“SEC”), including the Registration Statement (As defined below),
its Annual Report on Form 10-K for the fiscal year ended December
31, 2022, and its subsequent Quarterly Reports on Form 10-Q, under
the caption “Risk Factors,” as may be updated from time to time in
Permian Resources’ periodic filings with the SEC. Any
forward-looking statement in this press release speaks only as of
the date of this release. Permian Resources undertakes no
obligation to publicly update or review any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by any
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20231206005273/en/
Hays Mabry – Sr. Director, Investor Relations Mae Herrington –
Engineering Advisor, Investor Relations (832) 240-3265
ir@permianres.com
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