RSP Permian (RSPP) Announces 20M Share Common Stock Offering

Canaccord Genuity Raises Price Target on RSP Permian (RSPP) Following Delaware Basin Acquisition

Canaccord Genuity reiterated a Buy rating on RSP Permian, Inc. (NYSE: RSPP), and raised the price target to $50.00 (from $42.00), Following Delaware basin acquisition. The company now enters one of the best parts of the basin accretively while maintaining a relatively clean balance sheet and improving its... More

RSP Permian (RSPP) Prices Larger 22M Share Common Stock Offering for Proceeds of ~$875M

RSP Permian, Inc. (NYSE: RSPP) announced that it has priced an underwritten public offering of 22,000,000 shares of its common stock at $39.75 per share. The offering was upsized to 22,000,000 shares of common stock from the original offering size of 20,000,000 shares of common stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares of the Company's common stock. Total gross... More

RSP Permian (RSPP) to Acquire Silver Hill Energy Partners in $2.4B Deal; Boosts FY16 Outlook

RSP Permian, Inc. (NYSE: RSPP) announced it has entered into definitive agreements to acquire Silver Hill Energy Partners, LLC ("SHEP I") and Silver Hill E&P II, LLC for $1.25 billion of cash and 31.0 million shares of RSP common stock ("RSP Shares") in aggregate, implying a total purchase price of approximately $2.4 billion (based on the 20-day volume weighted average price of RSP Shares as of October 12, 2016).

Silver Hill is comprised of two privately held entities controlled by affiliates of Kayne Anderson Capital Advisors, LP ("Kayne Anderson") and Ridgemont Equity Partners ("Ridgemont") that collectively own ~68,000... More