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M&A Deal Summary

Permian Resources Acquires Earthstone Energy

On November 1, 2023, Permian Resources acquired oil/gas exploration company Earthstone Energy for 4.5B USD

Acquisition Highlights
  • This is Permian Resources’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Permian Resources’ largest (disclosed) transaction.
  • This is Permian Resources’ 2nd transaction in the United States.
  • This is Permian Resources’ 2nd transaction in Texas.

M&A Deal Summary
Date 2023-11-01
Target Earthstone Energy
Sector Oil/Gas Exploration
Buyer(s) Permian Resources
Deal Type Going Private
Deal Value 4.5B USD

Target

Earthstone Energy

The Woodlands, Texas, United States
Earthstone Energy is a growth-oriented independent oil and gas exploration and production company engaged in developing and acquiring oil and gas reserves through an active and diversified program that includes acquiring, drilling and developing undeveloped leases, asset and corporate acquisitions and exploration activities, with its primary assets located in the Eagle Ford trend of south Texas, the Midland Basin of west Texas, and the Williston Basin of North Dakota. Earthstone Energy was founded in 1969 and is based in The Woodlands, Texas.

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Buyer(S) 1

Buyer

Permian Resources

Midland, Texas, United States
Category Company
Founded 2015
Sector Oil/Gas Exploration
Employees482
Revenue 5.0B USD (2024)
DESCRIPTION

Permian Resources is an independent oil and natural gas company focused on driving sustainable returns through the responsible acquisition, optimization and development of high-return oil and natural gas properties. Permian Resources was founded in 2015 and is based in Midland, Texas.

DEAL STATS #
Overall 2 of 2
Sector: Oil/Gas Exploration M&A 2 of 2
Type: Going Private M&A Deals 1 of 1
State: Texas M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2023 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Centennial Resource Development - Produced Water Assets

Delaware Basin, Texas, United States

Centennial Resource Development LLC - Produced Water Assets consist of saltwater disposal wells and associated produced water infrastructure in Reeves County.

Sell $225M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-10 Permian Resources - Natural Gas & Oil Gathering Systems

Reeves County, Texas, United States

Permian Resources' Natural Gas & Oil Gathering Systems provides oil and natural gas services.

Sell $180M
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