FX.co ★ Permian Resources Prices Offering Of 48.50 Mln Shares At $15.76/Share; Stock Down

Permian Resources Corp., a leading oil and gas company, announced on Monday that certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, and Riverstone Investment Group LLC along with selling shareholders, have priced a public offering of 48.5 million shares at $15.76 each.

In addition, Permian Resources Corp. stated that it would purchase 2 million units from its subsidiary, Permian Resources Operating LLC. This transaction would be finalized once the share offering is completed, which is anticipated to be on March 6.

The offering is underwritten by Goldman Sachs & Co. LLC.

At present, Permian's stocks are falling by 3.01 percent, now trading at $15.57 on the New York Stock Exchange.