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RSP Permian, Inc. Announces Closing of Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Common Stock

DALLAS, Jan. 23, 2014 /PRNewswire/ -- RSP Permian, Inc. (the "Company") today announced the completion of its initial public offering of 23,000,000 shares of its common stock at a price to the public of $19.50 per share, including the exercise in full by the underwriters of their option to purchase an additional 3,000,000 shares of common stock from certain of the selling stockholders named in the registration statement. The Company sold 9,225,000 shares of its common stock, and the selling stockholders sold 13,775,000 shares of the Company's common stock.

Net proceeds received by the Company from the sale of 9,225,000 shares of its common stock were approximately $166.0 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds to fully repay its term loan, make cash payments to certain existing investors as partial consideration for the properties contributed to the Company by such persons, pay cash bonuses to certain of the Company's employees in connection with the successful completion of this offering, reduce outstanding borrowings under its revolving credit facility and fund a portion of its capital expenditure plan. The Company will not receive any of the proceeds from the sale of shares of the Company's common stock by the selling stockholders.

Barclays, J.P. Morgan, Tudor, Pickering, Holt & Co., Raymond James, RBC Capital Markets and UBS Investment Bank acted as joint book-running managers for this offering.

A registration statement on Form S-1 relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering will be made only by means of a written prospectus. A copy of the prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained, when available, from:

Barclays

J.P. Morgan

Tudor, Pickering, Holt & Co.

c/o Broadridge Financial Solutions

c/o Broadridge Financial

Attn: Prospectus Department

1155 Long Island Avenue

Solutions

Heritage Plaza

Edgewood, NY 11717

1155 Long Island Avenue

1111 Bagby, Suite 5100

[email protected]

Edgewood, NY 11717

Houston, TX 77002

Toll-Free: 1-888-603-5847

Toll-Free: 1-866-803-9204

Telephone: (713) 333-7100







Raymond James

RBC Capital Markets

UBS Investment Bank

Attn: Prospectus Department

Attn: Prospectus Department

Attn: Prospectus Department

880 Carillon Parkway

Three World Financial Center

299 Park Avenue

St. Petersburg, FL 33716

200 Vesey Street, 8th Floor

New York, NY 10171

[email protected]

New York, NY 10281

Toll-Free: 1-888-827-7275

Toll-Free: 1-800-248-8863

Toll-Free: 1-877-822-4089




US 2258918v.1

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities described in the registration statement or the prospectus in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

RSP Permian, Inc. is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas.

This release includes "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond RSP Permian, Inc.'s control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of oil and natural gas. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, cash flow and access to capital and the timing of development expenditures.

SOURCE RSP Permian, Inc.

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