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BRIEF-Centennial Resource Development announces qtrly earnings per share(successor) $0.04

May 10 Centennial Resource Development Inc

* Centennial Resource Development announces first quarter 2017 operational and financial results

* Centennial Resource Development Inc - Qtrly earnings per share (successor) $ 0.04

* Centennial Resource -Will issue 23.5 million shares of class a common stock in private placement for gross proceeds of about $341 million

* Centennial Resource -Proceeds from private placement will be used to fund pending acquisition of assets from gmt

* Centennial Resource - For remainder of 2017, centennial has 508.8 mbbls of oil hedged at a weighted average fixed price of $50.41 per barrel

* Centennial Resource -In addition, centennial has 36.5 mbbls of oil hedged in 2018 at a weighted average fixed price of $55.95 per barrel Source text for Eikon: Further company coverage:

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