Permian Resources completed the acquisition of Earthstone Energy for $4.5bn.

Permian Resources, an oil and natural gas company that engages in acquisition and development, completed the acquisition of Earthstone Energy, an oil and natural gas development and production company, for $4.5bn. “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,” Will Hickey, Permian Resources Co-CEO.