DALLAS, Feb. 27, 2017 /PRNewswire/ -- RSP Permian, Inc.
("RSP" or "Company) (NYSE: RSPP) today announced that its
stockholders approved the issuance of approximately 16 million
shares of RSP common stock as partial consideration for RSP's
acquisition of Silver Hill E&P II, LLC ("SHEP II"). As
previously announced, affiliates of SHEP II will also receive
approximately $646 million upon the
closing of the SHEP II transactions. At the Company's special
stockholder meeting held on February 24,
2017, approximately 83.5% of the outstanding shares of RSP
common stock were voted and of those who voted, approximately 99.9%
voted in favor of the issuance of RSP common stock to acquire SHEP
II.
With receipt of the stockholder's approval of the issuance of
RSP common stock, the SHEP II transactions are expected to close on
March 1, 2017.
About RSP Permian, Inc.
RSP is an independent oil and natural gas company focused on the
acquisition, exploration, development and production of
unconventional oil and associated liquids-rich natural gas reserves
in the Permian Basin of West
Texas. The vast majority of RSP's acreage is located on
large, contiguous acreage blocks in the core of the Midland and
Delaware Basins, sub-basins of the Permian Basin. The
Company's common stock is traded on the NYSE under the ticker
symbol "RSPP." For more information, visit
www.rsppermian.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are based on our current expectations
and beliefs concerning future developments and their potential
effect on the Company. While management believes that these
forward-looking statements are reasonable as and when made, there
can be no assurance that future developments affecting us will be
those that management anticipates.
The Company's forward-looking statements involve significant
risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from the Company's historical experience and present expectations
or projections. Furthermore, we may not be able to close the SHEP
II transactions and we may not be able to recognize the expected
benefits from the SHEP II transactions (including our expectations
for production growth). Information concerning these risks and
other factors can be found in RSP's filings with the SEC, including
its Annual Report on Form 10-K and any subsequent Quarterly Report
on Form 10-Q, which can be obtained free of charge on the SEC's web
site located at http://www.sec.gov.
Consequently, all of the forward-looking statements made in this
news release are qualified by these cautionary statements and there
can be no assurances that the actual results or developments
anticipated by us will be realized, or even if realized, that they
will have the expected consequences to or effects on us, our
business or operations. We have no intention, and disclaim any
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future results or
otherwise.
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SOURCE RSP Permian, Inc.