Permian Resources Corp. agreeing to acquire Earthstone Energy at a $4.5 billion enterprise value shows there’s growing appetite for public deals in US shale following multiple large private equity transactions this year, which may no longer be appealing, analyst Enverus says.
Takeovers have been the main path for US shale producers to grow over the past two years as many of the best drilling locations already are owned or leased. Civitas Resources agreed to enter the Permian Basin, the most prolific oil field in North America, in June when it acquired assets from companies controlled by private equity firm NGP ...
