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).
The Tender Offer was made pursuant to the terms and conditions
contained in the Offer to Purchase, dated July 29, 2024 (the “Offer
to Purchase”), and the related notice of guaranteed delivery for
the Tender Offer (the “Notice of Guaranteed Delivery”).
In accordance with the terms of the Tender Offer, OpCo will pay
the purchase price (the “Purchase Price”) for the Notes validly
tendered prior to the Expiration Time or pursuant to the Notice of
Guaranteed Delivery on August 8, 2024 (the “Settlement Date”). The
Purchase Price to be paid for the Notes is $1,014.67 for each
$1,000 principal amount of the Notes validly tendered and accepted
for purchase pursuant to the Tender Offer, plus accrued and unpaid
interest on the Notes validly tendered and accepted for purchase
from the last interest payment date up to, but not including, the
Settlement Date. For avoidance of doubt, interest on the Notes will
cease to accrue on the Settlement Date for all Notes accepted in
the Tender Offer. All Notes purchased on the Settlement Date will
subsequently be retired.
There can be no assurance that any Notes will be purchased. The
Tender Offer is conditioned upon the satisfaction of certain
conditions, including the completion of a contemporaneous notes
offering (the “Notes Offering”) by OpCo on terms and conditions
(including, but not limited to, the amount of proceeds raised in
such Notes Offering) satisfactory to OpCo and Permian Resources.
The Tender Offer is not conditioned upon any minimum amount of
Notes being tendered. The Tender Offer may be amended, extended,
terminated or withdrawn. OpCo intends to use a portion of the net
proceeds of the Notes Offering to fund the purchase of the Notes in
the Tender Offer.
Subject to completion of the Tender Offer, we intend to redeem
all Notes not purchased in the Tender Offer on or about February
15, 2025 (the “Redemption”) at a redemption price of 100.000% of
the principal amount, plus accrued and unpaid interest, if any, to
the redemption date.
OpCo has retained J.P. Morgan Securities LLC to serve as the
exclusive Dealer Manager for the Tender Offer. Questions regarding
the terms of the Tender Offer may be directed to J.P. Morgan
Securities LLC, Liability Management Group, at (866) 834-4666
(toll-free) or (212) 834-4818 (collect).
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, making it the
second largest Permian Basin pure-play E&P.
Cautionary Note Regarding
Forward-Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, 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, including
statements regarding the Notes Offering and the use of proceeds
therefrom, including the Tender Offer and the timing and outcome
thereof and the Redemption, our strategy, 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.
We caution you that any forward-looking statements are subject
to all of the risks and uncertainties, most of which are difficult
to predict and many of which are beyond our control, incident to
the development, production, gathering and sale of oil and natural
gas. Factors which could cause our actual results to differ
materially from the results contemplated by forward-looking
statements may include, but are not limited to, those set forth in
Permian Resources’ filings with the U.S. Securities and Exchange
Commission (the “SEC”), including its Annual Report on Form 10-K
for the fiscal year ended December 31, 2023, 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.
Should one or more of the risks or uncertainties described in
this press release occur, or should any underlying assumptions
prove incorrect, our actual results and plans could differ
materially from those expressed in any forward-looking statements.
All forward-looking statements, expressed or implied, included in
this press release are expressly qualified in their entirety by
this cautionary statement. This cautionary statement should also be
considered in connection with any subsequent written or oral
forward-looking statements that we or persons acting on our behalf
may issue.
Except as otherwise required by applicable law, we disclaim any
duty to update any forward-looking statements, all of which are
expressly qualified by the statements in this section, to reflect
events or circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240805257845/en/
Hays Mabry – Vice President, Investor Relations (432) 315-0114
ir@permianres.com
Permian Resources (NYSE:PR)
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から 8 2024 まで 9 2024
Permian Resources (NYSE:PR)
過去 株価チャート
から 9 2023 まで 9 2024