Advertisement
Australia markets closed

  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     

  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     

  • AUD/USD

    0.6519
    +0.0019 (+0.29%)
     

  • OIL

    83.07
    +0.26 (+0.31%)
     

  • GOLD

    2,334.60
    -3.80 (-0.16%)
     

  • Bitcoin AUD

    98,588.88
    -3,810.30 (-3.72%)
     

  • CMC Crypto 200

    1,389.76
    +7.19 (+0.52%)
     

  • AUD/EUR

    0.6082
    +0.0011 (+0.18%)
     

  • AUD/NZD

    1.0947
    +0.0005 (+0.04%)
     

  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     

  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     

  • FTSE

    8,040.38
    0.00 (0.00%)
     

  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     

  • DAX

    18,088.70
    -48.95 (-0.27%)
     

  • Hang Seng

    17,274.49
    +73.22 (+0.43%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

Centennial Resource Development Announces Closing of Non-Core Asset Divestiture

Centennial Resource Development
·1-min read

DENVER, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced it has closed the previously announced sale of non-core assets to affiliates of Henry Resources, LLC and Pickering Energy Partners, LP for a cash purchase price of $101 million, subject to customary closing adjustments. The properties sold include approximately 6,200 net leasehold acres and related assets located on the southernmost portion of the Company’s Reeves County, Texas position.

“We are pleased to have closed this transaction and plan to utilize the proceeds to reduce borrowings on the Company’s revolver,” said Sean R. Smith, Chief Executive Officer. “This divestiture enhances our financial flexibility as we head into next year.”

About Centennial Resource Development, Inc.

Centennial Resource Development, Inc. is an independent oil and natural gas company focused on the development of oil and associated liquids-rich natural gas reserves in the Permian Basin. The Company’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. For additional information about the Company, please visit www.cdevinc.com.

Contact:
Hays Mabry
Sr. Director, Investor Relations
(832) 240-3265
ir@cdevinc.com