Permian Resources (PR) has shared an update.
Permian Resources has announced a series of financial moves, including a private placement offering of $750 million in senior unsecured notes and a tender offer for its 7.75% Senior Notes due 2026. Additionally, the company is launching an underwritten public offering of its Class A Common Stock and has revealed a $817.5 million Bolt-On Acquisition of oil and gas assets from Occidental Petroleum Corporation affiliates. This strategic acquisition, expected to close in the third quarter of 2024, will be funded through a combination of cash on hand and the proceeds from the notes and equity offerings.
For detailed information about PR stock, go to TipRanks’ Stock Analysis page.
