An affiliate of Centennial Resource Development Inc. (NASDAQ: CDEV) has commenced a private offering of $350 million in aggregate principal amount of senior unsecured notes due 2026, it said on Nov. 13.
Centennial intends to use the net proceeds from the notes offering to repay all outstanding borrowings under its revolving credit facility and for general corporate purposes.
In June, Centennial closed on the $350 million acquisition of undeveloped acreage and producing properties within Lea County, New Mexico, in the northern Delaware Basin from GMT Exploration Co. LLC and GMT Capital Corp.
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