Each one in plain English, with the numbers worked through for a shareholder.
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).
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.
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.
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.
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.
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.
Silver Run formally entered the Agreement to Assign taking on Riverstone affiliate New Centennial's rights to acquire approximately 89% of Centennial Resource Production, converting the previously announced deal into a binding obligation.
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).
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.
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.
Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP, Wellington Management Company LLP disclosed a new substantial Permian Resources Corp shareholding (10.61% of votes).
MSD Partners, L.P, MSD Energy Partners, L.P, MSD Capital, L.P, Orange Marlin Investments, L.P, Michael S. Dell disclosed a new substantial Permian Resources Corp shareholding (4.00% of votes).
Silver Run Acquisition Corporation, an energy-focused blank-check company, completed a $500 million IPO on NASDAQ, raising capital to pursue a future acquisition or merger in the energy sector.