BUZZ-Permian Resources dips on secondary offering launch

** Permian Resources' shares dip 0.2% to $16.53 premarket after O&G producer commences secondary offering

** Midland, Texas-based co announces ~51.8 mln shares to be sold by EnCap Investments, NGP Energy, Pearl Energy Investments and Riverstone along with certain of co's board members

** Concurrently with closing of offering, co plans to purchase 1.8 mln common units and cancel corresponding Class C shares held by selling holders

** PR will have ~624.2 mln Class A shares and ~144 mln Class C shares outstanding after the offering, per the SEC filing

** Goldman Sachs sole bookrunner for offering

** PR late last Tues reported Q1 top and bottom line beat, per LSEG, and increased midpoint of its FY oil and total production guidance by 2% to 150 mln barrels/day and 320 mln barrels of oil equivalent/day

** Through Fri, shares up ~22% YTD and up nearly 80% over the past 12 months

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))