CDEV - CDEV STOCK NEWS

Centennial Resource Development (CDEV) reported its first quarter 2021 results, generating $72.3 million in operating cash and $10.6 million in free cash flow. The company experienced a net loss of $34.6 million, significantly reduced from a $548 million loss in the previous year. Average daily production fell to 54,202 Boe/d amid severe winter weather disruptions. Centennial improved liquidity by 22% and issued $170 million in convertible senior notes, redeeming higher-cost debt. The company has hedged 13,811 Bbls/d of oil, ensuring price stability for future production.

Centennial Resource Development (CDEV) will report its Q1 2021 financial results after market close on May 4, 2021. An earnings conference call is scheduled for May 5, 2021 at 8:00 a.m. MT (10:00 a.m. ET) for interested parties to participate by phone or via the internet. A replay of the call will be accessible for seven days post-event. The Company focuses on developing unconventional oil and natural gas reserves in the Permian Basin, specifically in the Delaware Basin.

Centennial Resource Development (CDEV) announced that CEO Sean R. Smith and COO Matt R. Garrison will participate in the Simmons Energy Conference on March 23, 2021. The event will be held virtually, and presentation materials will be available on the company's website prior to the conference. Centennial specializes in developing unconventional oil and natural gas reserves in the Permian Basin, focusing on the Delaware Basin. For further details, visit www.cdevinc.com.

Centennial Resource Development announces a public offering of $150 million in 3.25% exchangeable senior notes due 2028. The notes will be guaranteed by Centennial and its subsidiaries. Set to settle on March 19, 2021, the offering includes a 30-day option for underwriters to purchase an additional $22.5 million. The net proceeds of approximately $144.5 million will be used to redeem outstanding 8.00% notes and fund capped call transactions aimed at reducing potential dilution. The initial exchange price of $6.28 reflects a 30% premium over recent stock performance.

Centennial Resource Development (CDEV) announced a public offering of $150 million in exchangeable senior notes due 2028. The notes, guaranteed by Centennial and its subsidiaries, will be fully unsecured and interest-bearing, maturing on April 1, 2028. A portion of proceeds will fund capped call transactions, with the remainder allocated to redeeming existing senior secured notes and repaying credit facility borrowings. Underwriters may purchase an additional $22.5 million in notes. The offering is registered with the SEC and will follow standard procedures for distribution.

Centennial Resource Development (CDEV) reported its 2020 financial results, highlighting a net loss of $682.8 million, driven by impairment charges and low oil prices due to the pandemic. In the fourth quarter, the company generated free cash flow of $29.0 million and operational improvements led to record drilling efficiencies. For 2021, CDEV plans a two-rig drilling program, expects to achieve positive free cash flow, and aims to reduce leverage significantly. However, production is expected to decline in Q1 due to severe winter weather. The company anticipates an average 2021 oil production consistent with Q4 2020 levels.

Centennial Resource Development (CDEV) will release its fourth quarter and full year 2020 financial and operating results post-market on February 23, 2021. An earnings conference call is scheduled for February 24, 2021, at 8:00 a.m. Mountain (10:00 a.m. Eastern). Interested participants can join by calling (844) 348-0017 or connecting via the internet. A replay will be accessible for seven days after the call.

Centennial focuses on unconventional oil and natural gas reserves in the Permian Basin, particularly the Delaware Basin.

Centennial Resource Development (NASDAQ: CDEV) has announced that CEO Sean R. Smith will present at the MKM Partners Virtual Conference on December 15, 2020, at 10:30 a.m. Eastern. The presentation can be accessed via a live webcast on Centennial's website under the Investor Relations tab. Centennial focuses on developing unconventional oil and natural gas reserves in the Permian Basin, particularly in the Delaware Basin. For more details, visit www.cdevinc.com.

Centennial Resource Development (CDEV) announced that CEO Sean R. Smith will present at the Bank of America Securities Global Energy Conference on November 12, 2020, at 12:00 p.m. Eastern Time. The presentation will be held virtually, and a live webcast will be available on the Company's website under the Investor Relations tab. Centennial focuses on developing unconventional oil and natural gas reserves primarily in the Permian Basin, specifically the Delaware Basin.