Centennial Resource Development,Inc. (NASDAQ:CDEV) Files An 8-K Other Events

ME Staff 8-k
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Centennial Resource Development,Inc. (NASDAQ:CDEV) Files An 8-K Other Events
Item 8.01. Other Events.

On November7, 2017, Centennial Resource Development,Inc. (the “Company”) commenced an underwritten public offering of an aggregate of 25,000,000 shares of ClassA common stock by Riverstone VI Centennial QB Holdings, L.P., REL US Centennial Holdings, LLC, Riverstone Non-ECI USRPI AIV, L.P., Silver Run Sponsor,LLC and Celero Energy Company, LP. (collectively, the “selling stockholders”). The selling stockholders have also granted the underwriters a 30-day option to purchase up to an aggregate of 3,750,000 additional shares of ClassA common stock. The selling stockholders have agreed to sell the number of shares listed below:

SellingStockholder

Assumingthe Underwriter’sOptionto PurchaseAdditional

SharesisNotExercised

AssumingtheUnderwriter’s OptiontoPurchaseAdditional

SharesisExercised in Full

Riverstone VI Centennial QB Holdings, L.P.

14,705,306

16,911,102

REL US Centennial Holdings, LLC

4,346,633

4,998,628

Riverstone Non-ECI USRPI AIV, L.P.

1,068,037

1,228,243

Silver Run Sponsor,LLC

1,385,441

1,593,257

Celero Energy Company, LP

3,494,583

4,018,770

Centennial will not sell any shares of ClassA common stock in the offering and will not receive any proceeds therefrom.


About Centennial Resource Development,Inc. (NASDAQ:CDEV)

Centennial Resource Development, Inc., formerly Silver Run Acquisition Corporation, is an independent oil and natural gas company. The Company is focused on the development and acquisition of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’s assets and operations, which are held and conducted through Centennial Resource Production, LLC, are concentrated in the Delaware Basin, a sub-basin of the Permian Basin. The Company has more than 40,000 net acres in the southern Delaware Basin primarily in Reeves County in West Texas. It has developed its acreage primarily in the Wolfcamp zone, and is focused on the Avalon and Bone Spring shales.