Permian Resources Announces Full Redemption of 6.875% Senior Notes Due 2027
March 06 2024 - 8:38AM
Business Wire
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.
The Company has instructed UMB Bank, National Association, the
trustee under the Indenture, to distribute a Notice of Redemption
to all currently registered holders of the Notes on March 6, 2024.
Copies of such Notice of Redemption and additional information
relating to the procedure for redemption of the Notes may be
obtained from the Company’s investor relations contacts provided
below.
This press release shall not constitute a notice of redemption
under the optional redemption provisions of the Indenture, nor does
it constitute an offer to sell or the solicitation of an offer to
buy the Notes or any other securities, nor shall there be any sale
of any Notes or other securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
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.
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
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 the completion of the redemption,
the Company’s 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 the Company’s
filings with the SEC, 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 the Company’s periodic filings with the SEC.
Any forward-looking statement in this press release speaks only as
of the date of this release. The Company 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/20240305517448/en/
Hays Mabry – Sr. Director, Investor Relations Mae Herrington –
Engineering Advisor, Investor Relations (832) 240-3265
ir@permianres.com
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