Centennial Resource Development Archives - Page 2 of 2

Centennial Resource Development Equity Private Placements Now Total $910 Million

Centennial Resource Development Plans ~$1 Billion 2018 CapEx

February 27, 2018

Delaware Basin producer Centennial Resource Development, Inc. (ticker: CDEV) had average daily oil and total equivalent production volumes of 19,161 Bbls/d and 31,864 BOEPD, respectively. Centennial said that these production volumes represent an increase of 233% for daily oil and an increase of 278% for equivalents year-over-year. “In our first full year of operation, Centennial delivered on the 2017 goals

Mark Papa Discusses Real Reason U.S. Oil Production Growth is Sliding

November 7, 2017

CDEV Chairman Mark Papa says tepid U.S. production growth due to running out of Tier 1 drilling locations in 2 of the 3 biggest U.S. oil basins Centennial Resource Development (ticker: CDEV) reported Q3 earnings today and CDEV Chairman and CEO Mark Papa took the occasion to express his observations about the actual reasons for a drop in growth of

No Slowing the Permian Land Grab: Centennial Resource Development Enters the Northern Delaware

May 1, 2017

Raising our 2020 oil production target to 60,000 BOPD: Centennial CEO Mark Papa Denver’s Centennial Resource Development, Inc. (ticker: CDEV) said on Monday it is acquiring undeveloped acreage and producing oil and gas properties in the core of the Northern Delaware basin from privately held GMT Exploration for $350 million in cash. The acreage total in the acquisition comes to 11,860, all in Lea County, N.M. Pro-forma for

Centennial Resource Development Equity Private Placements Now Total $910 Million

December 5, 2016

Centennial readies itself for a busy 2017 in the Permian Centennial Resource Development, Inc. and its affiliates (ticker: CDEV) has entered into agreements to issue and sell $910 million of equity securities to third-party investors in a private placement, including its previously announced agreement to issue and sell to an affiliate of Riverstone Holdings LLC (“Riverstone”) up to $500 million of equity securities. Centennial expects to use

Centennial Resource Development Acquires 35,000 Delaware Basin Acres

November 28, 2016

$855 million purchase gives Centennial about 77,000 acres in one of America’s hottest oil plays Denver-based Centennial Resource Development (ticker: CDEV) announced Monday that it has agreed to acquire 100% of the leasehold interests and related upstream assets from Silverback Exploration. Privately-held Silverback’s 35,000 net acres (44,000 gross) of Delaware Basin assets directly offset Centennial’s existing acreage, and are currently

Centennial Resource Development: The Next Core Delaware Pure Play

October 27, 2016

Centennial Resource Development launches its new website: www.CDEVinc.com A newly formed oil and gas E&P company, Centennial Resource Development (ticker: CDEV), (www.CDEVinc.com) is the Southern Delaware’s newest player, though its executive team and board of directors are anything but new to the basin. Silver Run transaction with CDEV CDEV was christened Centennial Resource Development by Silver Run Acquisition Corp. on

Silver Run Jumps into the Delaware with Acquisition of 89% Interest in Centennial Resources

October 11, 2016

Former EOG CEO Mark Papa completes acquisition of Delaware Basin pure-play Centennial Resources Silver Run Acquisition Corporation announced today that it completed its acquisition of an 89% controlling interest in Centennial Resource Production, a pure-play Delaware Basin company with 42,500 net acres primarily in Reeves and Ward counties, Texas. Silver Run bought Centennial from an affiliate of Riverstone Holdings LLC.

Silver Run Purchases Centennial Resources

July 22, 2016

Mark Papa’s Silver Run will own 89% interest in Centennial Silver Run Acquisition Corporation (ticker: SRAQ), a special purpose acquisition company (SPAC) run by former 14-year EOG Resources (ticker: EOG) CEO Mark Papa, agreed to purchase approximately 89% interest in Centennial Resource Production, an independent E&P located in the core of the Southern Delaware Basin, from an affiliate of Riverstone

Riverstone Acquires $175 Million Majority Stake in NGP’s Centennial Resource Development

July 8, 2016

Riverstone Energy Limited (ticker: RSE) has signed an agreement alongside other funds affiliated with Riverstone Holdings, LLC to acquire a majority stake in Centennial Resource Development LLC from NGP Energy Capital and certain other related coinvestment funds. The investment by REL is expected to comprise up to US$175 million depending upon approval for the transaction by the other Riverstone affiliated funds. Closing of the transaction is expected to

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