Riverstone Energy Group Amends Permian Resources Stake

TL;DR

Riverstone Energy Group updated their stake in Permian Resources. Still watching.

AI Summary

On March 8, 2024, Riverstone Energy Ltd. Investment Holdings, L.P. and its affiliates, including David M. Leuschen and Pierre F. Lapeyre, Jr., filed an amendment to their Schedule 13D. This filing relates to their beneficial ownership of Permian Resources Corp. (formerly Centennial Resource Development, Inc.). The filing does not specify a dollar amount or a specific date of change beyond the filing date.

Why It Matters

This filing indicates a significant investment group's ongoing interest and potential influence over Permian Resources Corp., which could impact the company's strategic decisions and stock performance.

Risk Assessment

Risk Level: medium — Schedule 13D filings often signal potential activist investor activity or significant shifts in major holdings, which can introduce volatility.

Key Players & Entities

• Riverstone Energy Ltd. Investment Holdings, L.P. (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

FAQ

Key Financial Figures

• $15.71 — s of Class A Common Stock at a price of $15.71 per share (the "Offering") to Goldman S

Filing Documents

• tm248310d1_sc13da.htm (SC 13D/A) — 406KB
• 0001104659-24-032599.txt ( ) — 409KB

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 6, 2024, the previously disclosed Offering (as defined below) closed, in which 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.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

of the Schedule 13D is amended and restated in its entirety

Item 5 of the Schedule 13D is amended and restated in its entirety as follows: (a) – (b) The following sets forth, as of the date hereof, the aggregate number of shares of Class A Common Stock and percentage of Class A Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Class A Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 579,901,309 shares of Class A Common Stock outstanding as of March 6, 2024, following the Offering. Reporting Person Amount beneficially owned Percent of class Sole power to vote or to direct the vote Shared power to vote or to direct the vote Sole power to dispose or to direct the disposition Shared power to dispose or to direct the disposition Silver Run Sponsor, LLC 1,866,331 0.3 % 0 1,866,331 0 1,866,331 Silver Run Sponsor Manager, LLC 1,866,331 0.3 % 0 1,866,331 0 1,866,331 REL US Centennial Holdings, LLC 10,052,173 1.7 % 0 10,052,173 0 10,052,173 REL IP General Partner LP 10,052,173 1.7 % 0 10,052,173 0 10,052,173 REL IP General Partner Limited 10,052,173 1.7 % 0 10,052,173 0 10,052,173 Riverstone Energy Limited Investment Holdings, LP 10,052,173 1.7 % 0 10,052,173 0 10,052,173 Riverstone Holdings II (Cayman) Ltd. 10,052,173 1.7 % 0 10,052,173 0 10,052,173 Riverstone Non-ECI USRPI AIV, L.P. 3,190,946 0.6 % 0 3,190,946 0 3,190,946 Riverstone Non-ECI USRPI AIV GP, L.L.C. 3,190,946 0.6 % 0 3,190,946 0 3,190,946 Riverstone Non-ECI Partners GP (Cayman), L.P. 3,190,946 0.6 % 0 3,190,946 0 3,190,946 Riverstone Non-ECI GP Cayman LLC 3,190,946 0.6 % 0 3,190,946 0 3,190,946 Riverstone Non-ECI GP Ltd. 3,190,946 0.6 % 0 3,190,946 0 3,190

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 8, 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 REL US Centennial Holdings, LLC By: REL IP General Partner LP, its managing member By: REL IP General Partner Limited, its general partner By: /s/ Thomas Smith Name: Thomas Smith Title: Director REL IP General Partner LP By: REL IP General Partner Limited, its general partner By: /s/ Thomas Smith Name: Thomas Smith Title: Director REL IP General Partner Limited By: /s/ Thomas Smith Name: Thomas Smith Title: Director CUSIP No. 71424F105 13D Page 2 of 4 Pages Riverstone Energy Limited Investment Holdings, LP By: Riverstone Holdings II (Cayman) Ltd., its general partner By: /s/ David M. Leuschen Name: David M. Leuschen Title: Director Riverstone Holdings II (Cayman) Ltd. By: /s/ David M. Leuschen Name: David M. Leuschen Title: Director Riverstone Non-ECI USRPI AIV, L.P. By: Riverstone Non-ECI USRPI AIV GP, L.L.C., itsgeneral 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 3 of 4 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 Riversto

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View this SC 13D/A filing on SEC EDGAR