31 Oct 2016director interest notice● Neutral
Permian Resources Corp Chief Operating Office Sean R. Smith received a stock option grant for 300,000 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
31 Oct 2016securities registration● Neutral
Permian Resources Corp registered a securities offering with the SEC.
31 Oct 2016director interest notice● Neutral
Permian Resources Corp CEO Mark G Papa received a stock option grant for 1,000,000 shares.
21 Oct 2016director interest notice● Neutral
Jamie L Wheat became a Permian Resources Corp VP, Chief Accounting Officer and company insider (initial ownership filing).
21 Oct 2016director interest notice● Neutral
Ngp Energy Capital Management, L.L.C. became a Permian Resources Corp 10%+ owner and company insider (initial ownership filing).
21 Oct 2016substantial holder notice● Neutral
Silver Run Sponsor, LLC, Silver Run Sponsor Manager, LLC, Riverstone Centennial Holdings, L.P, Riverstone VI REL Holdings GP, LLC, Riverstone Energy Partners VI, L.P, Riverstone Energy GP VI, LLC, Riverstone Energy GP VI Corp, Riverstone Holdings LLC, David M. Leuschen, Pierre F. Lapeyre, Jr disclosed a new substantial Permian Resources Corp shareholding (61.70% of votes).
21 Oct 2016director interest notice● Neutral
Karl E. Bandtel became a Permian Resources Corp director and company insider (initial ownership filing).
21 Oct 2016substantial holder notice● Neutral
Centennial Resource Development, LLC, NGP X US Holdings, L.P, NGP X Holdings GP, L.L.C, NGP Natural Resources X, L.P, G.F.W. Energy X, L.P, GFW X, L.L.C, NGP Energy Capital Management, L.L.C disclosed a new substantial Permian Resources Corp shareholding (10.50% of votes).
21 Oct 2016director interest notice● Neutral
Robert M. Tichio became a Permian Resources Corp director and company insider (initial ownership filing).
21 Oct 2016director interest notice● Neutral
Tony R Weber became a Permian Resources Corp director and company insider (initial ownership filing).
21 Oct 2016director interest notice● Neutral
Maire A. Baldwin became a Permian Resources Corp director and company insider (initial ownership filing).
21 Oct 2016director interest notice● Neutral
Davis O O'connor became a Permian Resources Corp General Counsel and company insider (initial ownership filing).
21 Oct 2016director interest notice● Neutral
George S. Glyphis became a Permian Resources Corp CFO, Treasurer, ASST Secretary and company insider (initial ownership filing).
21 Oct 2016director interest notice● Neutral
Sean R. Smith became a Permian Resources Corp Chief Operating Officer and company insider (initial ownership filing).
14 Oct 2016capital raising announcement● Neutral
After the Centennial Resource Production deal closed, the company (now Centennial Resource Development, Inc., formerly Silver Run) issued 844,079 Class A shares on October 11, 2016 to an investor, in exchange for the same number of CRP units held by CRP members. It cancelled 844,079 Class C shares as part of the swap. This is a small one-for-one conversion that shows the acquisition has closed and the company has been renamed; no cash was raised.
13 Oct 2016director interest notice● Neutral
Permian Resources Corp director Jeffrey Tepper converted derivative holdings into 40,000 shares.
13 Oct 2016director interest notice● Neutral
Riverstone Centennial Holdings, L.P. became a Permian Resources Corp 10%+ owner and company insider (initial ownership filing).
13 Oct 2016director interest notice● Neutral
Permian Resources Corp 10%+ owner Silver Run Sponsor, LLC acquired 101,385,000 shares and disposed of 12,380,000 in a set of related equity transactions.
11 Oct 2016business combination▲ GoodMajor
Silver Run Acquisition Corporation completed its acquisition of approximately 89% of Centennial Resource Production and renamed itself Centennial Resource Development, Inc., converting from a blank-check SPAC into an operating Permian Basin oil and gas company.
11 Oct 2016listing compliance notice● NeutralMajor
Permian Resources Corp's exchange filed to remove a class of its securities from listing.
23 Sept 2016business combination● NeutralMajor
Silver Run filed its definitive proxy for the special meeting to approve the Centennial Resource Production acquisition, replacing the July preliminary version. The proposals are the same in substance, including the Class C stock, the increase in authorised Class A shares from 200 million to 600 million, the Riverstone and other private placements and the incentive plan. The preliminary proposal to add one-to-one share-to-unit maintenance provisions is no longer listed as a separate item; the proxy lists the elimination of old SPAC provisions as the 'Additional Charter Proposal'. The name is now planned as Centennial Resource Development, Inc. rather than 'Corp.', and the trust figure is updated to about $500.3 million as of June 30, 2016 (about $10.00 per share). Shareholders can still redeem; the deal is not yet completed in this filing.
15 Sept 2016business combination● Neutral
Silver Run set a record date for the special shareholder meeting to vote on its pending acquisition of Centennial Resource Production, a procedural step toward closing.
12 Sept 2016substantial holder notice● Neutral
T. ROWE PRICE ASSOCIATES, INC disclosed a new substantial Permian Resources Corp shareholding (10.40% of votes).
10 Aug 2016substantial holder notice● Neutral
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP reported a Permian Resources Corp shareholding of 1,012,680 shares (2.03% of votes) in a periodic institutional filing.
4 Aug 2016debt financing● NeutralMajor
Silver Run and the Centennial sellers amended their contribution agreement, resetting the cash consideration structure for the pending Centennial acquisition to about $1.19 billion (plus up to $200 million more under a seller cash election); separately, Silver Run's sponsor extended it a small $300,000 working-capital note to cover expenses until the deal closes.
29 July 2016business combination● NeutralMajor
Silver Run filed a preliminary proxy asking its stockholders to vote on buying about 89% of Centennial Resource Production (the deal announced in July), with a stated transaction value of about $1.39 billion. Votes are also sought on creating a new Class C stock, raising authorised Class A shares from 200 million to 600 million, up to 81,005,000 shares sold to Riverstone affiliates plus 20,000,000 to other investors, a long-term incentive plan, and a name change to Centennial Resource Development Corp. Public holders can redeem for their share of the roughly $500 million trust (about $10.00 per share illustratively). The sponsor, officers and directors (about 20% of shares) have agreed to vote in favour. This continues the July deal and is still preliminary.
27 July 2016listing compliance notice▲ GoodMajor
Silver Run signed an Agreement to Assign with Riverstone affiliate New Centennial, under which it agreed to assume the rights to buy about 89% of Centennial Resource Production. The assignment was conditional on stockholder approval and other conditions, and either party could terminate it if approval was not obtained by October 10, 2016.
25 July 2016substantial holder notice● Neutral
Tide Point Capital Management, LP, Tide Point Capital Management GP, LLC, Tide Point Master Fund, Ltd, Christopher Winham disclosed a new substantial Permian Resources Corp shareholding (5.60% of votes).
22 July 2016business combination▲ GoodMajor
Silver Run agreed to acquire roughly 89% of Centennial Resource Production, an oil and gas company in the core of the Southern Delaware Basin, from NGP-affiliated sellers, backed by an estimated $810 million equity commitment from Riverstone Holdings (which would become Silver Run's largest shareholder, ~51%) plus $200 million from Capital World and Fidelity funds to help pay the cash consideration.
22 July 2016business combination● Neutral
Silver Run filed the transcript of its investor webcast discussing the newly announced Centennial Resource Production acquisition, describing Centennial's roughly 42,500 net Delaware Basin acres and 7,200 boe/d of production.