REG - Riverstone Energy Ld - Completion of Secondary Public Offering in Permian

Riverstone EnergyAnnouncement

16/09/2025 18:15

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RNS Number : 5930Z  Riverstone Energy Limited  16 September 2025

LEI: 213800HAZOW1AWRSZR47

16 September 2025

Riverstone Energy Limited (the "Company" or "REL")

Completion of Secondary Public Offering in Permian Resources Corporation

The previously announced underwritten public offering of an aggregate of
46,112,899 shares of Class A common stock of Permian Resources Corporation
("Permian Resources") by certain stockholders has completed.

The Company participated for the whole of its investment in Permian Resources
comprising 10,052,173 shares of Class A common stock at a price
of $13.46 per share.  The price received represents a 1.75% discount to the
closing price on 13 September 2025.

REL will receive in total gross proceeds (prior to applicable taxes and
expenses) from the investment of $135 million.

Expected return of proceeds to shareholders

The aggregate proceeds which REL will receive from the disposal of its
investment in Permian Resources and the sale of the whole of its investment in
Whitecap Resources Inc. ("Whitecap Resources") announced yesterday (excluding
applicable taxes and expenses) is approximately $200 million as against an
aggregate net asset value of $196 million as at 30 June 2025.

Following the two transactions, REL will hold net cash of approximately $250
million. In accordance with the managed wind-down investment policy adopted by
the Company on 22 August 2025, the Company expects to return a substantial
proportion of this amount to shareholders, net of reasonable provisions for
running costs in the expected managed wind-down period, by way of a pro rata
compulsory redemption of ordinary shares. Further details will be announced by
the Company in due course.

In accordance with the terms of its investment management agreement, REL paid
to RIGL Holdings, LP (the "Investment Manager") an adjustment payment in
respect of Permian Resources and Whitecap Resources shortly after the
commencement of the managed wind-down. That adjustment payment was calculated
based on the net asset value of Whitecap Resources and Permian Resources as at
30 June 2025. Accordingly, no further adjustment payments will be due to the
Investment Manager in respect of the sales of the Company's investments in
either Permian Resources or Whitecap Resources.

For further details, see www.RiverstoneREL.com
(http://www.riverstonerel.com/) .

Neither the contents of Riverstone Energy Limited's website nor the contents
of any website accessible from hyperlinks on the websites (or any other
website) is incorporated into, or forms part of, this announcement.

Media Contacts

For Riverstone Energy Limited: LPRelations@RiverstoneLLC.com
(mailto:LPRelations@RiverstoneLLC.com)

Deutsche Numis - Corporate Broker:

Hugh Jonathan

Matt Goss

+44 (0) 20 7260 1000

Ocorian Administration (Guernsey) Limited - Company Secretary:

Birgitte Horn

OAGLCoSec@ocorian.com (mailto:OAGLCoSec@ocorian.com)

 

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