Centennial Resource Development Inc-DE (CDEV)

Overview

Centennial Resource Development, Inc. is an independent oil and natural gas company that embarks on the strategic exploration and development of valuable crude oil and associated liquids-rich natural gas reserves within the United States. The focal point of its operations is the Delaware Basin, a significant subdivision of the expansive Permian Basin. The company's asset portfolio is primarily located within the promising territories of Reeves County in West Texas and Lea County in New Mexico. By the end of 2021, Centennial Resource Development, Inc. had successfully leased or acquired approximately 73,675 net acres, in addition to owning 991 net mineral acres within the Delaware Basin. Originally founded as Silver Run Acquisition Corporation, the entity underwent a rebranding phase to adopt its current name in October 2016. Established in 2015, the company situates its headquarters in Denver, Colorado, optimizing its positioning for the strategic management and expansion of its operations in the oil and gas domain.

Products and Services

The core operations of Centennial Resource Development, Inc. revolve around two primary products and services:

• Crude Oil Development: At the heart of its operations, Centennial Resource Development, Inc. prioritizes the exploration, development, and production of high-quality crude oil. This focus underlines the company’s commitment to tapping into and utilizing the rich reserves found within the Delaware Basin. The meticulous development of these crude oil reserves is pivotal in meeting both energy needs and contributing to the oil industry's supply chain.
• Liquids-Rich Natural Gas Reserves: Alongside crude oil, Centennial Resource Development, Inc. extends its expertise to the discovery and extraction of liquids-rich natural gas reserves. This aspect of their operations is integral to harnessing the full potential of the natural resources within their leased and owned acreages. The production of natural gas complements their crude oil operations, ensuring a diversified portfolio of energy resources aimed at addressing the wide spectrum of market demands.