Permian Resources Announces Secondary Offering Of Stock

(RTTNews) - Permian Resources Corporation (PR) Monday announced secondary offering of 48.5 million Class A shares by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments and Riverstone Investment Group LLC and certain members of the company's management (the selling stockholders).

Permian Resources will not receive any proceeds from the offering.

Concurrently with the closing of the offering, the company intends to purchase from the selling stockholders 2 million common units representing limited liability company interests in Permian Resources Operating, LLC, a subsidiary of Permian Resources. Goldman Sachs & Co. LLC is serving as the underwriter for the offering.