Permian Resources Closes $4.5B Earthstone Energy Acquisition

Transaction Type
Delaware Basin
Announce Date
Post Date
Close Date
Estimated Price

Permian Resources Corp. completed its $4.5 billion acquisition of Earthstone Energy Inc., a deal that adds 300,000 boe/d to the company’s production, according to a Nov. 1, 2023 press release.

The purchase price, including debt, is roughly twice Earthstone’s market capitalization.

The transaction, which comes after extensive M&A by Earthstone including a recently closed $1.5 billion transaction, strengthens Permian Resources’ position “as a leading Delaware Basin independent E&P” with over 400,000 net acres, the company said in an Aug. 21 press release.

Permian Resources’ pro forma production will increase to approximately 300,000 boe/d, the company said, and enhance its free cash flow profile.