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Centennial Resource Development (NASDAQ: CDEV) has finalized the sale of non-core assets to affiliates of Henry Resources and Pickering Energy for $101 million. The transaction includes approximately 6,200 net leasehold acres in Reeves County, Texas, with standard closing adjustments. CEO Sean R. Smith stated that the funds will be used to pay down borrowings on the company’s revolver, improving financial flexibility for the upcoming year.
Centennial Resource Development (CDEV) announced CEO Sean R. Smith will present at the Bank of America Securities Global Energy Conference on November 17, 2021, at 11:00 a.m. Eastern. Additionally, COO Matthew R. Garrison and VP of Finance William A. Weidig are scheduled to present at the MKM Partners Virtual Best Ideas Conference on the same day at 1:50 p.m. Eastern. Both presentations will be streamed live on the Centennial website under the Investor Relations section, offering insights into the company's operations in the Permian Basin.
Centennial Resource Development (CDEV) announced strong Q3 2021 results, achieving a record free cash flow of $77.2 million, up 126% from the previous quarter. The company reported net income of $37.1 million, reversing a loss from the prior year. Daily crude oil production rose 5% to 33,529 Bbls/d compared to the prior quarter. Centennial also plans to divest a non-core asset for $101 million to reduce debt. Enhanced liquidity and improved leverage metrics were highlighted, with net debt-to-LTM EBITDAX dropping to 2.1x.
Centennial Resource Development, Inc. (CDEV) will report its third-quarter 2021 financial results on November 3, 2021, after market close. The company is an independent oil and natural gas entity focused on the Permian Basin, particularly in the Delaware Basin. A conference call for stakeholders will take place on November 4, 2021, at 8:00 a.m. Mountain Time, to discuss the results. Interested parties can join the call via phone or the internet. A replay will be available for seven days following the call.
Centennial Resource Development, Inc. (CDEV) announced that CEO Sean R. Smith will present at the Barclays CEO Energy-Power Conference on September 9, 2021, at 1:15 p.m. Eastern. The presentation will be available via live webcast on the company's website under the Investor Relations tab. Centennial focuses on oil and natural gas development in the Permian Basin, primarily within the Delaware Basin. For further details, visit www.cdevinc.com.
Centennial Resource Development (CDEV) reported strong second quarter 2021 results, generating $34.2 million in free cash flow and a net cash from operating activities of $107.3 million. Despite a net loss of $25.1 million, crude oil production increased 13% from the previous quarter, averaging 31,912 Bbls/d. The company improved leverage metrics and continued operational efficiencies, with notable well performance in the Delaware Basin. Centennial's total liquidity stands at $446 million, with a focus on free cash flow and debt reduction for the remainder of the year.
Centennial Resource Development, Inc. (CDEV) will release its second quarter 2021 financial results after market close on August 3, 2021. An earnings conference call is scheduled for August 4, 2021, at 8:00 a.m. Mountain (10:00 a.m. Eastern). Participants can join the call via phone or online. The call will be available for replay for a week post-event. Centennial focuses on oil and natural gas development in the Permian Basin, particularly in the Delaware Basin.
Centennial Resource Development announced the appointment of Vidisha Prasad to its Board of Directors, effective immediately. She will serve on the Audit Committee and Nominating, Environmental, Social, and Governance Committee. Prasad, Managing Partner at Adya Partners, brings nearly two decades of experience in energy investments and corporate advisory, having facilitated over $80 billion in M&A transactions. The company also acknowledged the retirement of Karl Bandtel, who has served since its public debut in 2016, thanking him for his contributions.
Centennial Resource Development, Inc. (NASDAQ: CDEV) has announced that COO Matt R. Garrison will present at two upcoming conferences. He is scheduled to speak at the DUG Permian and Eagle Ford Conference in Fort Worth, Texas on July 13, 2021, at 10:40 a.m. Eastern, followed by a presentation at EnerCom’s The Oil & Gas Conference in Denver, Colorado on August 16, 2021, at 3:55 p.m. Eastern. Presentation materials will be available on Centennial’s website under the Investor Relations tab.
Centennial Resource Development (CDEV) announces CEO Sean R. Smith's upcoming presentations at two virtual conferences. He will present at the RBC Capital Markets Global Energy, Power & Infrastructure Conference on June 9, 2021, at 10:00 a.m. Eastern, and at the J.P. Morgan Energy, Power & Renewables Conference on June 23, 2021, at 3:40 p.m. Eastern. Investors can access live webcasts of both events on the company’s website under the Investor Relations section. Centennial focuses on oil and natural gas reserves in the Permian Basin.
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