Riverstone Holdings Amends Permian Resources Stake Filing

TL;DR

Riverstone Holdings updated their Permian Resources ownership filing on 3/6/24. No major changes disclosed, but always worth watching.

AI Summary

On March 6, 2024, Riverstone Holdings LLC, along with affiliated entities and individuals like David M. Leuschen and Pierre F. Lapeyre, Jr., filed an amendment to their Schedule 13D. This filing pertains to their beneficial ownership of Permian Resources Corp. The filing does not disclose a specific dollar amount for their holdings but indicates a change in their reporting status.

Why It Matters

This amendment signals a potential shift in the ownership structure or strategy of Permian Resources Corp, which could impact its stock price and future corporate actions.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant ownership stakes, which can lead to activist investor behavior or changes in control, introducing potential volatility.

Key Players & Entities

• Riverstone Holdings LLC (company) — Filing entity
• David M. Leuschen (person) — Group member
• Pierre F. Lapeyre, Jr. (person) — Group member
• Permian Resources Corp (company) — Subject company
• Centennial Resource Development, Inc. (company) — Former company name
• Silver Run Acquisition Corp (company) — Former company name

FAQ

Key Financial Figures

• $15.71 — s of Class A Common Stock at a price of $15.71 per share (the “Offering”)

Filing Documents

• tm248162d1_sc13da.htm (SC 13D/A) — 37KB
• 0001104659-24-031557.txt ( ) — 40KB

Purpose of Transaction

Item 4. Purpose of Transaction.

of the Schedule 13D is amended and supplemented as follows

Item 4 of the Schedule 13D is amended and supplemented as follows: March 2024 Sales On March 4, 2024, Riverstone VI Centennial QB Holdings, L.P. (“Riverstone QB Holdings”), Riverstone Non-ECI USRPI AIV, L.P. (“Riverstone Non-ECI”), Silver Run Sponsor, LLC (“Silver Run Sponsor”), and David M. Leuschen (collectively, the “Riverstone Parties”) sold an aggregate of 5,000,000 shares of Class A Common Stock at a price of $15.71 per share (the “Offering”) to Goldman Sachs & Co. LLC (the “Underwriter”) pursuant to an underwriting agreement dated as of March 4, 2024 (the “Underwriting Agreement”), by and among the Issuer, the Underwriter, the Riverstone Parties and certain other selling stockholders. The Offering closed on March 6, 2024. Pursuant to the Underwriting Agreement, each of the Riverstone Parties has agreed that, subject to specified exceptions, without the prior written consent of the Underwriter, such each Riverstone Party will not, during the period ending 45 days after the date of the final prospectus filed in connection with the Offering: (i) offer, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, pledge, grant any option, right or warrant to purchase, make any short sale, lend or otherwise transfer or dispose of, directly or indirectly, any shares of Class A Common Stock, or any options or warrants to purchase any shares of Class A Common Stock, or any securities convertible into, exchangeable for or that represent the right to receive shares of Class A Common Stock or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Class A Common Stock. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement, which is filed as Exhibit 13

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

above summarizes certain provisions of the

Item 4 above summarizes certain provisions of the Underwriting Agreement and is incorporated herein by reference. A copy of such agreement is attached as an exhibit to this Schedule 13D, and is incorporated herein by reference. Except as described in Item 4, the Reporting Person does not have any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies. CUSIP No. 71424F105 13D Page 3 of 3 Pages

Materials to be Filed as Exhibits

Item 7. Materials to be Filed as Exhibits Exhibit Number Description 13 Underwriting Agreement, dated as of March 4, 2024 (incorporated by reference to Exhibit 1.1 to the Issuer’s current report on Form 8-K filed on March 6, 2024). CUSIP No. 71424F105 13D Page 1 of 3 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief,I certify that the information set forth in this statement is true, complete and correct. Date : March 6, 2024 Silver Run Sponsor, LLC By: Silver Run Sponsor Manager, LLC, its managing member By: /s/ Thomas Smith Name: Thomas Smith Title: Managing Director Silver Run Sponsor Manager, LLC By: /s/ Thomas Smith Name: Thomas Smith Title: Managing Director Riverstone Non-ECI USRPI AIV, L.P. By: Riverstone Non-ECI USRPI AIV GP, L.L.C., its general partner By: /s/ Thomas Smith Name: Thomas Smith Title: Managing Director Riverstone Non-ECI USRPI AIV GP, L.L.C. By: /s/ Thomas Smith Name: Thomas Smith Title: Managing Director Riverstone Non-ECI Partners GP (Cayman), L.P. By: Riverstone Non-ECI GP Cayman LLC, its general partner By: Riverstone Non-ECI GP Ltd., its sole member By: /s/ Thomas Smith Name: Thomas Smith Title: Director CUSIP No. 71424F105 13D Page 2 of 3 Pages Riverstone Non-ECI GP Cayman LLC By: Riverstone Non-ECI GP Ltd., its sole member By: /s/ Thomas Smith Name: Thomas Smith Title: Director Riverstone Non-ECI GP Ltd. By: /s/ Thomas Smith Name: Thomas Smith Title: Director Riverstone VI Centennial QB Holdings, L.P. By: Riverstone Energy Partners VI, L.P., its general partner By: Riverstone Energy GP VI, LLC, its general partner By: /s/ Thomas Smith Name: Thomas Smith Title: Managing Director Riverstone Energy Partners VI, L.P. By: Riverstone Energy GP VI, LLC, its general partner By: /s/ Thomas Smith Name: Thomas Smith Title: Managing Director Riverstone Energy GP VI, LLC By: /s/ Thomas Smith Name: Thomas Smith Title: Managing Director Riverstone Energy GP VI Corp By: /s/ Thomas Smith Name: Thomas Smith Title: Vice President CUSIP No. 71424F105 13D Page 3 of 3 Pages Riverstone Holdings LLC By: /s/ Thomas Smith Name: Thomas S

View Full Filing

View this SC 13D/A filing on SEC EDGAR