Centennial Resource Development’s $491.3 Million Notes Offering


Simpson Thacher represented J.P. Morgan Securities LLC, as underwriter, in connection with a registered secondary offering of 25,000,000 shares of common stock of Centennial Resource Development, Inc. (NASDAQ: CDEV) by certain selling stockholders, including affiliates of Riverstone Holdings, LLC, Natural Gas Partners, Celero Energy Company, LP and The Carlyle Group.

A total of approximately $491.3 million in proceeds before expenses was raised in the offering. The selling stockholders received all of the proceeds from the offering.

Centennial 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. Centennial’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.

Simpson Thacher team included Art Robinson (Picture), Brian E. Rosenzweig, Benjamin Heriaud and Jeffrey S. Herscott (Capital Markets); Michael Isby (Environmental); Alisa Tschorke (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA); Marcela Robledo (Intellectual Property); and Nancy Mehlman and Morgan Otway (Tax).

Involved fees earner: Arthur Robinson – Simpson Thacher & Bartlett; Brian Rosenzweig – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Jeffrey Herscott – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Alisa Tschorke – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Morgan Otway – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: JP Morgan Securities;

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Author: Ambrogio Visconti