About Our Company

Centennial Resource Development is an independent oil and natural gas company focused on the development of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin. Centennial was formed in 2016 through the business combination of Centennial Resource Production, LLC and Silver Run Acquisition Corporation, a special purpose acquisition company formed by Mark G. Papa, our former Chairman and CEO, and Riverstone Holdings, LLC, an energy private equity fund. Centennial is headquartered in Denver, Colorado.

Our assets are located primarily in Reeves County, Texas in the core of the Southern Delaware Basin, in addition to properties in Lea County, New Mexico in the Northern Delaware Basin. The Permian Basin represents one of the most attractive operating areas in the United States due to its favorable operating environment, stacked pay potential, high oil content, extensive infrastructure base, significant service provider network, and historically high drilling success rates. We believe activity in the Delaware Basin will continue to evolve as new drilling completion techniques and enhanced development practices are employed. Our drilling inventory consists of approximately 2,400 horizontal drilling locations across seven proven zones in the Delaware Basin with upside potential from additional prospective formations across our acreage position.

We intend to maintain a conservative balance sheet to preserve financial flexibility through commodity cycles. We believe strong liquidity, low debt levels and modest leverage are competitive advantages in any industry environment. Additionally, we plan to invest our capital judiciously and maintain a low cost structure.