The Firm recently represented Goldman Sachs & Co. LLC, as underwriter, in connection with a registered secondary offering of 25,000,000 shares of common stock of Centennial Resource Development, Inc. (“Centennial”) (NASDAQ: CDEV) by certain selling stockholders, including affiliates of Riverstone Holdings, LLC, Natural Gas Partners and Celero Energy Company, LP. A total of approximately $499 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.
The Simpson Thacher team included Art Robinson, Patrick Baron, Brian E. Rosenzweig, Davis Mahon, Jonathan Zane and Andrew Mandelbaum (Capital Markets); Michael Isby and Louise Kruger (Environmental); Alisa Tschorke (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA); Marcela Robledo (Intellectual Property); and Jonathan Cantor and Deborah Plum (Tax).