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Latham & Watkins Advises on Permian Resources’ US$500 Million Private Placement of Senior Notes

September 7, 2023
A Houston-based team represents the initial purchasers in the transaction.

Permian Resources Corporation (NYSE: PR) announced that its subsidiary, Permian Resources Operating, LLC (the Issuer), has priced US$500 million in aggregate principal amount of 7.000% senior notes due 2032 (the Notes) in a previously announced private placement under Rule 144A and Regulation S under the Securities Act of 1933, as amended. The Issuer intends to use the net proceeds from the offering to repay indebtedness, which may include amounts outstanding under its credit facility and amounts to be assumed in connection with the closing of the previously announced merger with Earthstone Energy, Inc.

Latham & Watkins LLP represents the initial purchasers in the transaction with a corporate team led by Houston partner John Greer and Austin partner David Miller, with associates Dan Harrist, Michael Pascual, Brent Wagner, Carol Bale, and Jeffrey Romano. Advice was also provided on environmental matters by Houston/Los Angeles partner Joshua Marnitz, with associate Joseph Kmetz; and on tax matters by Houston partner Jim Cole, with associate Dylan White.