Articles from Permian Resources Corporation

Permian Resources Corporation (NYSE: PR) (“Permian Resources” or the “Company”) today announced it has entered into a definitive agreement to sell its natural gas and oil gathering systems primarily located in Reeves County, Texas to Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) for a total cash consideration of $180 million, subject to customary post-closing adjustments. The divested natural gas and oil pipeline systems include a combination of both recently purchased and legacy company-owned midstream infrastructure and exclude any water infrastructure or surface acreage.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its third quarter 2024 financial and operational results and revised 2024 guidance.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that its Board of Directors (the “Board”) declared a quarterly base cash dividend of $0.15 per share of Class A common stock, or $0.60 per share on an annualized basis. The base dividend is payable on November 22, 2024 to shareholders of record as of November 14, 2024.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that it will report third quarter 2024 financial and operating results after the market closes for trading on Wednesday, November 6, 2024. Management will host an earnings conference call on Thursday, November 7, 2024, at 9:00 a.m. Central (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (800) 225-9448 (Conference ID: PRCQ324) at least 15 minutes prior to the start of the call or via the internet at www.permianres.com. A replay of the call will be available on the Company’s website or by phone at (800) 839-5495 (Passcode: 26601) for a 14-day period following the call.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the closing of its previously announced acquisition of certain leasehold and royalty interests and related midstream infrastructure from Occidental (NYSE: OXY). The acquired assets consist of ~29,500 net acres, ~9,900 net royalty acres and substantial midstream infrastructure primarily located offset the Company’s existing position in Reeves County, Texas.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE:PR) today announced an update to its return of capital strategy, which increases its quarterly base dividend from $0.06 per share to $0.15 per share ($0.60 per share annually). This represents a 150% increase to the Company’s prior base dividend and provides a leading base dividend yield amongst U.S. independent E&Ps.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its second quarter 2024 financial and operational results and revised 2024 guidance.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that its Board of Directors (the “Board”) declared a quarterly base cash dividend of $0.06 per share of Class A common stock, or $0.24 per share on an annualized basis. Additionally, the Board has declared a quarterly variable cash dividend of $0.15 per share of Class A common stock. Combined, the base and variable dividends represent a total of $0.21 per share. The base and variable dividends are payable on August 27, 2024 to shareholders of record as of August 19, 2024.

Permian Resources Corporation (“Permian Resources,” “we,” “us” or “our”) (NYSE: PR) today announced the final results and expiration of its previously announced cash tender offer to purchase (the “Tender Offer”) any and all of the outstanding 7.75% Senior Notes due 2026 (the “Notes”) of Permian Resources Operating, LLC, a subsidiary of Permian Resources (“OpCo”). As of 5:00 p.m., New York City time, on August 2, 2024, the expiration time for the Tender Offer (the “Expiration Time”), Permian Resources had received tenders for an aggregate principal amount of $298,703,000 of the outstanding Notes, or 99.57% of the aggregate principal amount of the Notes outstanding. These amounts exclude $878,000 aggregate principal amount of the Notes that remain subject to the guaranteed delivery procedures described in the Offer to Purchase and the Notice of Guaranteed Delivery (each as defined below).

Permian Resources Corporation (“Permian Resources,” “we,” “us” or “our”) (NYSE: PR) today announced the pricing terms of the previously announced cash tender offer to purchase (the “Tender Offer”) any and all of the outstanding senior notes (the “Notes”) listed in the following table upon the terms and conditions described in the Offer to Purchase, dated July 29, 2024 (the “Offer to Purchase”), of Permian Resources Operating, LLC, a subsidiary of Permian Resources (“OpCo”).

Permian Resources Corporation (“Permian Resources,” “we,” “us” or “our”) (NYSE: PR) announced today that Permian Resources Operating, LLC (the “Issuer”), a subsidiary of Permian Resources, has priced its previously announced private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers of $1,000.0 million aggregate principal amount of 6.25% senior notes due 2033 (the “Notes”). This offering was upsized from an initial offering size of $750.0 million aggregate principal amount. The Notes mature on February 1, 2033 and pay interest at the rate of 6.25% per year, payable on August 1 and February 1 of each year. The first interest payment on the Notes will be made on February 1, 2025. The Notes were priced at par. The Notes will be guaranteed on a senior unsecured basis by Permian Resources and all of the Issuer’s subsidiaries that guarantee the Issuer’s obligations under its revolving credit facility (the “credit facility”).

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the pricing of an underwritten public offering (the “equity offering”) of an aggregate 26,500,000 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”), at a price to the public of $15.30 per share.

Permian Resources Corporation (“Permian Resources,” “we,” “us” or “our”) (NYSE: PR) today announced that Permian Resources Operating, LLC (“Permian Resources OpCo”), a subsidiary of Permian Resources, commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes (the “Notes”) listed in the following table upon the terms and conditions described in Permian Resources OpCo’s Offer to Purchase, dated July 29, 2024 (the “Offer to Purchase”).

Permian Resources Corporation (“Permian Resources,” “we,” “us” or “our”) (NYSE: PR) announced today that, subject to market conditions, Permian Resources Operating, LLC, a subsidiary of Permian Resources (the “Issuer”), 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 $750.0 million in aggregate principal amount of senior unsecured notes due 2033 (the “Notes”). The Notes will be guaranteed on a senior unsecured basis by Permian Resources and all of the Issuer’s subsidiaries that guarantee the Issuer’s obligations under its senior secured credit facility (the “credit facility”).

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the commencement of an underwritten public offering (the “equity offering”) of an aggregate 26,500,000 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”).

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that it has entered into a definitive agreement with Occidental (NYSE: OXY) to purchase ~29,500 net acres, ~9,900 net royalty acres and ~15,000 Boe/d predominantly located directly offset the Company’s existing position in Reeves County, Texas for $817.5 million, subject to customary post-closing adjustments. The effective date of the transaction is July 1, 2024, with closing expected to occur by the end of the third quarter of 2024.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that it will report second quarter 2024 financial and operating results after the market closes for trading on Tuesday, August 6, 2024. Management will host an earnings conference call on Wednesday, August 7, 2024, at 9:00 a.m. Central (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (800) 267-6316 (Conference ID: PRCQ224) at least 15 minutes prior to the start of the call or via the internet at www.permianres.com. A replay of the call will be available on the Company’s website or by phone at (800) 925-9354 (Passcode: 24995) for a 14-day period following the call.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that funds affiliated with EnCap Investments L.P., Pearl Energy Investments and Riverstone Investment Group LLC (collectively, the “Private Equity Stockholders”) have amended and extended the existing registration rights agreement between them, the Company and other parties thereto, to provide for continued partnership with Permian Resources as its Private Equity Stockholders monetize common stock in the future.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announces today that, in connection with its post-merger integration of Earthstone Energy Inc. (Earthstone) and its subsidiaries, it has completed the liquidation of Lynden Energy Corp. (Lynden), a corporation organized under the laws of British Columbia, and as a result it has applied to the British Columbia Securities Commission (BCSC), as principal regulator, and the Ontario Securities Commission (OSC) for a joint order (the Order Sought) to cease to be a reporting issuer in British Columbia, Alberta and Ontario—the provinces of Canada in which it is a reporting issuer. Lynden was a Canadian subsidiary of Earthstone, and Permian Resources is completing the liquidation to simplify its corporate structure and reduce go forward tax obligations, as contemplated at the time of the Earthstone acquisition. This liquidation is administrative in nature and has no impact on the Company’s previously announced financial and operational results and guidance.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the pricing of an underwritten public offering of an aggregate 51,765,000 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”), at a price to the public of $16.47 per share, by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC and a certain member of the Company’s Board of Directors (collectively, the “Selling Stockholders”). Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the commencement of an underwritten public offering of an aggregate 51,765,000 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”), by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC and a certain member of the Company’s Board of Directors (collectively, the “Selling Stockholders”).

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced its first quarter 2024 financial and operational results and revised 2024 guidance.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that its Board of Directors (the “Board”) declared a quarterly base cash dividend of $0.06 per share of Class A common stock, or $0.24 per share on an annualized basis. Additionally, the Board has declared a quarterly variable cash dividend of $0.14 per share of Class A common stock. Combined, the base and variable dividends represent a total of $0.20 per share. The base and variable dividends are payable on May 29, 2024 to shareholders of record as of May 21, 2024.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that it will report first quarter 2024 financial and operating results after the market closes for trading on Tuesday, May 7, 2024. Management will host an earnings conference call on Wednesday, May 8, 2024 at 9:00 a.m. Central (10:00 a.m. Eastern). Interested parties are invited to participate on the call by dialing (800) 225-9448 (Conference ID: PRCQ124) at least 15 minutes prior to the start of the call or via the internet at www.permianres.com. A replay of the call will be available on the Company’s website or by phone at (800) 938-2488 (Passcode: 24995) for a 14-day period following the call.

Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) announced today that Permian Resources Operating, LLC (the “Issuer”), a subsidiary of Permian Resources, has given notice of its intention to redeem all of the Company’s outstanding $356,351,000 aggregate principal amount 6.875% Senior Notes due 2027 (the “Notes”) on April 5, 2024 (the “Redemption Date”). The redemption is being made in accordance with the terms and conditions of the Notes and the indenture governing the Notes (the “Indenture”). The redemption price per Note will be 100% of the principal amount of the Notes, plus accrued and unpaid interest up to, but excluding, the Redemption Date.