Each one in plain English, with the numbers worked through for a shareholder.
14 May 2020substantial holder notice● Neutral
Silver Run Sponsor, LLC, Silver Run Sponsor Manager, LLC, REL US Centennial Holdings, LLC, REL IP General Partner LP, REL IP General Partner Limited, Riverstone Energy Limited Investment Holdings, LP, Riverstone Non-ECI USRPI AIV, L.P, Riverstone Non-ECI USRPI AIV GP, L.L.C, Riverstone Non-ECI GP Cayman LLC, Riverstone Non-ECI GP Ltd, Riverstone VI Centennial QB Holdings, L.P, Riverstone Energy Partners VI, L.P, Riverstone Energy GP VI, LLC, Riverstone Energy GP VI Corp, Riverstone Holdings, LLC, Riverstone/Gower Mgmt Co Holdings, L.P, Riverstone Management Group, L.L.C, David M. Leuschen, Pierre F. Lapeyre reported a Permian Resources Corp shareholding of 85,365,837 shares (30.80% of votes) in a periodic institutional filing.
Centennial's lenders cut its revolving credit borrowing base to $700 million (from $800 million) in the spring 2020 redetermination and reduced elected commitments to match, tightening credit amid collapsed oil prices.
Amid the COVID-19 oil price crash, Nasdaq warned Centennial that its stock had traded below the $1 minimum bid price for 30 straight days, risking delisting; separately the company launched distressed exchange offers, proposing to swap its unsecured 2026 and 2027 notes for new second- and third-lien secured notes.
As the COVID-19 oil price crash hit, Centennial and BP agreed to delay the ramp-up of their crude oil supply agreement by a year, pushing the higher-volume delivery period to January 2021.
Prescott Group Capital Management, L.L.C, Prescott Group Aggressive Small Cap, L.P, Prescott Group Aggressive Small Cap II, L.P, Prescott Group Aggressive Small Cap Master Fund, G.P, Phil Frohlich disclosed a new substantial Permian Resources Corp shareholding (8.50% of votes).
Centennial agreed to sell its Delaware Basin saltwater disposal and water transportation infrastructure to WaterBridge for $150 million, with up to $75 million more in potential earnout payments.
