Centennial Resource Development, Inc. Announces Settlement of Offers to Exchange Any and All Outstanding 5.375% Senior Notes due 2026 and 6.875% Senior Notes due 2027

On May 22, 2020 (the Settlement Date), CRP accepted tenders from holders of $110,552,000 aggregate principal amount of Old 2026 Notes and $143,649,000 aggregate principal amount of the Old 2027 Notes for aggregate consideration consisting of $127,073,000 aggregate principal amount of Second Lien Notes.