Permian Resources Announces Secondary Offering

Permian Resources Corporation ("Permian Resources" or the "Company") has announced a secondary public offering of an aggregate 51,765,000 shares of its Class A common stock, par value $0.0001 per share, by certain affiliates of Encap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC, and a certain member of the company's board of directors. It is important to note that Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds from it.

Concurrently with the closing of the offering, the Company intends to purchase 1,800,000 common units representing limited liability company interests in Permian Resources Operating, LLC, a subsidiary of Permian Resources, at a price per unit equal to the price per share at which the underwriter purchases shares of Class A common stock in the offering. This purchase will result in the cancellation of a corresponding number of shares of the company's Class C common stock held by the selling stockholders.

Goldman Sachs & Co. LLC is serving as the underwriter for the offering, which is subject to market and other conditions. The offering is being made pursuant to a registration statement previously filed by the company with the U.S. Securities and Exchange Commission (SEC) that became automatically effective upon filing on November 8, 2023.

The proposed offering will be made only by means of a prospectus and prospectus supplement that meet the requirements under the Securities Act of 1933, as amended. Interested parties may obtain copies of the preliminary prospectus supplement and accompanying base prospectus from Goldman Sachs & Co. LLC.

It is important to note that this press release shall not constitute an offer to sell or a solicitation of an offer to buy shares of Class A common stock or any other securities. Additionally, there shall be no sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful without registration or qualification under the securities laws of any such state or jurisdiction.

About Permian Resources:

Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization, and development of high-return oil and natural gas properties. The company's assets and operations are concentrated in the core of the Delaware Basin. Following these announcements, the company's shares moved -0.1%, and are now trading at a price of $16.55. For the full picture, make sure to review Permian Resources's 8-K report.

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