Permian Resources Corp., a US oil producer named after the shale basin in which it operates, agreed to acquire Earthstone Energy Inc. for about $2 billion through an all-stock takeover.
It’s the latest deal for Will Hickey and James Walter, the 30-something co-chief executive officers of Midland, Texas-based Permian Resources who have built up the company into a major independent US shale operator through a series of mergers in recent years. Including debt, the deal has an enterprise value of about $4.5 billion, according to a statement Monday.
Takeovers have been crucial for US shale producers to grow ...
