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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Sun., Jul. 24, 2:24 PM

Slide #2. Silver Run Acquisition Corporation Centennial Resource Production, LLC

Acquirer: Silver Run Acquisition Corporation (NASDAQ:SRAQ)
Acquiree: Centennial Resource Production, LLC
Details: Silver Run Acquisition Corporation ("Silver Run") (NASDAQ: SRAQ, SRAQU, SRAQW) today announced that, subject to certain conditions, including approval of the Silver Run stockholders, it has agreed to acquire a controlling interest in Centennial Resource Production, LLC ("Centennial"), an independent oil and natural gas company located in the core of the Southern Delaware Basin. On July 6, 2016, an affiliate of Riverstone Holdings LLC ("Riverstone") entered into a definitive agreement to purchase an approximate 89% interest in Centennial from funds controlled by, and affiliates of, NGP Energy Capital Management, L.L.C. (together, "NGP"). In accordance with the definitive agreement, Riverstone has agreed to assign, and Silver Run has agreed to assume, its right to purchase the interest in Centennial to Silver Run and will participate in the transaction as an equity holder directly in Silver Run.

Silver Run Acquisition is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Co. has not identified any potential business combination target and Co. has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any potential business combination target. Although Co. pursues an acquisition opportunity in any business or industry, Co. capitalizes on the ability to identify, acquire and operate a business in the energy industry that provides opportunities for attractive risk-adjusted returns.

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Company Name:  Silver Run Acquisition Corp
Sector:  Uncategorized

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July 24, 2016    2:24 PM Eastern
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