Centennial Resource Development Inc. and its affiliates closed the roughly-$855 million acquisition of leasehold interests and assets in Reeves County, Colo., from Silverback Exploration LLC.
Related: Centennial Resource Stitches On Another 35,000 Delaware Acres
In conjunction with the acquisition’s closing, Centennial closed an amendment that increased the borrowing base of its revolving credit facility to $250 million from $200 million.
Currently, there are no drawn amounts under the facility, the company said in a Dec. 29 press release.
Centennial also said that the $910 million private placement of equity has closed, proceeds from which funded the Silverback acquisition and also supported general corporate purposes.
Riverstone Holdings LLC and affiliated funds were among investors. Third-party investors purchased $480 million of Class A common shares priced at $14.54 each.
Riverstone purchased $430 million of equity securities–Class A shares and preferred shares that can convert into Class A shares.
Centennial Resource Development Inc. is based in Denver.
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