Permian Resources Acquires Earthstone Energy in $4.5 Billion All-Stock Deal

Permian Resources and Earthstone Energy entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. The deal is expected to enhance Permian Resources’ Delaware Basin position with significant acreage and pro forma production scale, and to deliver meaningful accretion and ~$175 million in annual cash flow improvements from synergies.