Centennial Resource Development

Permian Resources Corp. operates as an oil and natural gas company. It focuses on the development of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. The company was founded on October 6, 2014 and is headquartered in Denver, CO.

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Permian Resources Corp. engages in the exploration and production of oil and natural gas. It also focuses on driving sustainable returns through the responsible acquisition, optimization, and development of crude oil. The company was founded on October 6, 2014 and is headquartered in Midland, TX.

DENVER, May  22, 2020  (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (the “Company” or “Centennial”) (NASDAQ: CDEV) announced the final settlement of the previously announced exchange offers (the “Exchange Offers”) of its operating subsidiary, Centennial Resource Production, LLC (“CRP”), whereby CRP offered to all eligible holders to exchange any and all of their outstanding 5.375% Senior Notes due 2026 (the “Old 2026 Notes”) and 6.875% Senior Notes due 2027 (the “Old 2027 Notes” and, together with the Old 2026 Notes, the “Old Notes”) for up to $250 million aggregate principal amount of New 8.00% Second Lien Senior Secured Notes due 2025 (the “Second Lien Notes”) and up to $200 million aggregate principal amount of newly issued 8.00% Third Lien Senior Secured Notes due 2027 (the “Third Lien Notes”).

Centennial Resource Development, Inc. Announces Settlement of Offers to Exchange Any and All Outstanding 5.375% Senior Notes due 2026 and 6.875% Senior Notes due 2027

DENVER, May  20, 2020  (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (the “Company” or “Centennial”) (NASDAQ: CDEV) today announced the expiration and final results for the exchange offers (the “Exchange Offers”) of its operating subsidiary, Centennial Resource Production, LLC (“CRP”), whereby CRP offered to all eligible holders to exchange any and all of their outstanding 5.375% Senior Notes due 2026 (the “Old 2026 Notes”) and 6.875% Senior Notes due 2027 (the “Old 2027 Notes” and, together with the Old 2026 Notes, the “Old Notes”) for up to $250 million aggregate principal amount of newly issued 8.00% Second Lien Senior Secured Notes due 2025 (the “Second Lien Notes”) and up to $200 million aggregate principal amount of newly issued 8.00% Third Lien Senior Secured Notes due 2027 (the “Third Lien Notes”).

Centennial Resource Development, Inc. Announces Expiration and Final Results of Exchange Offers and Consent Solicitations for Any and All Outstanding 5.375% Senior Notes due 2026 and 6.875% Senior Notes due 2027

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DENVER, May  15, 2020  (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced that, effective May 15, 2020, the previously announced divestiture by its wholly-owned subsidiary, Centennial Resource Production, LLC, of saltwater disposal wells and associated produced water infrastructure located primarily in Reeves County, Texas to a subsidiary of WaterBridge Resources LLC (“WaterBridge”) has been terminated. Pursuant to the terms of the purchase and sale agreement, Centennial provided written notice of termination relating to the divestiture after WaterBridge failed to close the transaction on or before 5:00 pm Mountain Time on May 15, 2020, which was the Outside Date for the divestiture set forth in the purchase and sale agreement. Pursuant to the terms of the purchase and sale agreement, Centennial believes it has a right to receive the $10 million purchase price deposit, which is currently held in escrow.

Centennial Resource Development Announces Termination of Water Infrastructure Transaction

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Centennial Resource Development's (CDEV) first-quarter results are hurt by lower total production and commodity price realizations. Moreover, increased operating expenses affect the profit level.

Why Centennial Resource (CDEV) is Down 9.4% Since Q1 Earnings?

The exploration and development company reported earnings two days earlier, but the market wasn't done selling.

Why Centennial Resource Development Stock Plummeted 15% in Early Trading on May 6

DENVER, May  06, 2020  (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced that its operating subsidiary, Centennial Resource Production, LLC (“CRP”), has extended the date by which early tenders must be received (the “Early Tender Date”) for its previously announced offers (the “Exchange Offers”) to exchange its outstanding 5.375% Senior Notes due 2026 (the “Old 2026 Notes”) and its outstanding 6.875% Senior Notes due 2027 (the “Old 2027 Notes” and, together with the Old 2026 Notes, the “Old Notes”) for up to $250 million aggregate principal amount of newly issued 8.00% Second Lien Senior Secured Notes due 2025 (the “Second Lien Notes”) and up to $200 million aggregate principal amount of newly issued 8.00% Third Lien Senior Secured Notes due 2027 (the “Third Lien Notes” and, together with the Second Lien Notes, the “New Notes”), in each case upon the terms and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement, dated April 22, 2020, as supplemented by supplement no. 1 thereto, dated May 4, 2020 (as so supplemented, the “Offering Memorandum”). As of 5:00 p.m., New York City time, on May 5, 2020, $110.4 million in aggregate principal amount of Old 2026 Notes and $143.5 million in aggregate principal amount of Old 2027 Notes had been validly tendered and not validly withdrawn pursuant to the terms of the Exchange Offers and related consent solicitations (the “Consent Solicitations”).

Centennial Resource Development, Inc. Announces Extension of Early Tender Date of the Exchange Offers and Consent Solicitations

Centennial Resource Development, Inc. (CDEV) CEO Sean Smith on Q1 2020 Results - Earnings Call Transcript

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Why Centennial Resource Development Stock Is Plunging Today

CENTENNIAL RES (CDEV) delivered earnings and revenue surprises of -380.00% and -7.90%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

CENTENNIAL RES (CDEV) Reports Q1 Loss, Misses Revenue Estimates

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Centennial (CDEV) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Centennial (CDEV) Might Surprise This Earnings Season

CENTENNIAL RES (CDEV) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

CENTENNIAL RES (CDEV) Expected to Beat Earnings Estimates: Should You Buy?

DENVER, April  22, 2020  (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced that its operating subsidiary, Centennial Resource Production, LLC (“CRP”), has commenced offers to all Eligible Holders (as defined below) to exchange (the “Exchange Offers”) any and all of their outstanding 5.375% Senior Notes due 2026 (the “Old 2026 Notes”) and outstanding 6.875% Senior Notes due 2027 (the “Old 2027 Notes” and, together with the Old 2026 Notes, the “Old Notes”) for up to $250 million aggregate principal amount of newly issued 8.00% Second Lien Senior Secured Notes due 2025 (the “Second Lien Notes”) and up to $200 million aggregate principal amount of newly issued 8.00% Third Lien Senior Secured Notes due 2027 (the “Third Lien Notes,” and together with the Second Lien Notes, the “New Notes”), in each case upon the terms and subject to the conditions set forth in the confidential offering memorandum and consent solicitation statement, dated April 22, 2020 (the “Offering Memorandum”).

Centennial Resource Development, Inc. Announces Commencement of Exchange Offers and Consent Solicitations for Any and All Outstanding 5.375% Senior Notes due 2026 and 6.875% Senior Notes due 2027

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DENVER, March  27, 2020  (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced it is implementing its previously announced leadership transition plan in light of the fact that Mark G. Papa has elected to accelerate the timing of his retirement as Chairman and Chief Executive Officer of the Company to March 31, 2020. As a result, the Board of Directors’ (the “Board”) previously announced leadership transition will be effective April 1, 2020. Current Director Steven J. Shapiro has been named non-executive Chairman of the Board. Sean R. Smith, current Vice President and Chief Operating Officer, has been appointed to Chief Executive Officer and to the Board, and Matt R. Garrison has been appointed to serve as Vice President and Chief Operating Officer.

Centennial Resource Development Announces Leadership Changes

CENTENNIAL RES (CDEV) reported earnings 30 days ago. What's next for the stock?

CENTENNIAL RES (CDEV) Down 80.4% Since Last Earnings Report: Can It Rebound?

Centennial Resource (CDEV) trims its operated rig count to one from five in early March.

Centennial Curbs 2020 Capex to Half Amid Weak Crude Prices

DENVER, March  19, 2020  (GLOBE NEWSWIRE) -- As a result of the recent decline in crude oil prices and ongoing uncertainty regarding the oil supply-demand macro environment, Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced that it has reduced its operated rig program from five rigs at the beginning of the month to one currently.  As a result, the Company anticipates that its capital expenditure budget for 2020 will be approximately fifty percent lower than the annual guidance ranges provided in late February, assuming the Company continues to run one rig for the remainder of the year.  Centennial will continue to monitor changes in commodity prices and may further adjust its capital program for the remainder of the year in response to such changes.  The Company expects to update its detailed 2020 financial and operational plan concurrent with the release of its first quarter 2020 financial results; therefore, the guidance issued on February 24, 2020 should no longer be relied upon. 

Centennial Resource Development Provides Update to 2020 Capital Program

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Is CENTENNIAL RES (CDEV) a Great Value Stock Right Now?

Centennial Resource Development, Inc. (CDEV) CEO Mark Papa on Q4 2019 Results - Earnings Call Transcript

Centennial Resource Development's (CDEV) fourth-quarter results are supported by higher oil price realization, partially offset by rising operating costs.

News for Centennial Resource Development Stock (CDEV)