Permian Resources Completes $4.5 Billion Acquisition of Earthstone Energy
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Permian Resources Corporation has completed its acquisition of Earthstone Energy. The transaction was previously approved by Permian Resources and Earthstone shareholders at special meetings held on October 30, 2023.
“We are excited to complete this transaction and welcome the Earthstone team to Permian Resources. This acquisition reinforces Permian Resources’ position as a premier Delaware Basin independent E&P which is uniquely situated to drive profitable growth and development in the world-class Permian Basin,” said James Walter, Co-CEO of Permian Resources.
“We look forward to leveraging our deep Delaware Basin experience and increased scale to deliver upon the significant synergies provided by this combination, driving incremental value for our combined shareholder base. We appreciate the strong support from shareholders and are confident in the tangible and long-term value expected to be created through this transaction,” said Will Hickey, Co-CEO of the company.
Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization, and development of high-return oil and natural gas properties. The company’s assets and operations are located in the core of the Delaware Basin.
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