Riverstone Energy Limited Secondary Public Offering Centennial Resource Dev. (8556V)

TIDMRSE

RNS Number : 8556V

Riverstone Energy Limited

08 November 2017

- THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION -

Secondary Public Offering in Centennial Resource Development

London, UK (8 November 2017) - Centennial Resource Development Inc. ("Centennial") (NASDAQ: CDEV) has announced the commencement of an underwritten public offering of 25,000,000 shares of Class A common stock by affiliates of Riverstone Holdings, LLC and Natural Gas Partners.

Riverstone Energy Limited ("REL") has participated for its proportional share of the offering, resulting in the sale of 4,346,633 shares, equivalent to 18.2 per cent. of its total investment in Centennial. 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 Class A common stock. If exercised, this would result in the sale of up to an additional 651,995 shares by REL. Information on pricing will be released in due course.

REL's holding in Centennial, pro forma for this transaction and excluding the option for underwriters to purchase additional shares, is 19,542,288 shares, which results in a gross unrealised value of $411 million based on the Centennial share price at yesterday's market close.

About Riverstone Energy Limited:

REL is a closed-ended investment company that invests exclusively in the global energy industry, with a particular focus on the exploration & production and midstream sectors. REL aims to capitalise on the opportunities presented by Riverstone's energy investment platform. REL is a member of the FTSE 250 and its ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE. To date, REL has made 17 investments spanning conventional and unconventional oil and gas activities in the Gulf of Mexico, Continental U.S., Western Canada, the U.K. North Sea, the Norwegian Sea, Mexico and Credit.

For further details, see www.RiverstoneREL.com

Neither the contents of Riverstone Energy Limited's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

About Centennial Resource Development, Inc.

Centennial Resource Development, Inc. is an independent oil and natural gas company focused on the development 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.

Media Contacts

For Riverstone Energy Limited:

 
Brian Potskowski 
 Natasha Fowlie 
 [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 08, 2017 02:00 ET (07:00 GMT)