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

(RTTNews) - Oil and natural gas company, Permian Resources Corp. (PR), Monday announced the pricing of public offering of 48.50 million shares at $15.76 per share, by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments and Riverstone Investment Group LLC and selling stockholders.

Additionally, the company said that it would purchase 2 million units in its subsidiary Permian Resources Operating, LLC from selling stockholders. The transaction would conclude upon the share offering's completion, which is scheduled for March 6.

Goldman Sachs & Co. LLC serves as the underwriter for the offering.

Currently, Permian's stock is sliding 3.01 percent, to $15.57 on the New York Stock Exchange.