Latham & Watkins Advises Initial Purchasers in Permian Resources’ US$500 Million Offering of Senior Notes

Permian Resources Corporation (NYSE: PR) announced that Permian Resources Operating, LLC, a subsidiary of Permian Resources, has priced its previously announced private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, to eligible purchasers of US$500 million aggregate principal amount of 7.000% senior notes due 2032 (the Notes). The Notes mature on January 15, 2032, and pay interest at the rate of 7.000% per year, payable on January 15 and July 15 of each year. The first interest payment on the Notes will be made on January 15, 2024. The Notes were priced at 99.50% of par, plus accrued and unpaid interest from September 12, 2023. The Notes Offering is expected to close on December 13, 2023, subject to customary conditions.

Latham & Watkins LLP is advising the initial purchasers in the offering with a capital markets team led by Houston partner John Greer and Austin partner David Miller, with associates Dan Harrist, Michael Pascual, Brent Wagner, Brian Bruzzo, Carol Bale, and David Lee. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Dylan White; and on environmental matters by Los Angeles/Houston partner Josh Marnitz, with associate Nathaniel Glynn.