Energy Company Permian Resources Announces Acquisition of Earthstone Energy
Portfolio Pulse from Benzinga Insights
Permian Resources (NYSE:PR) has announced its acquisition of Earthstone Energy (NYSE:ESTE) for $4.50 billion in stock, expected to be completed in 2023. Both companies are involved in oil and natural gas development and production.
August 21, 2023 | 3:10 pm
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NEUTRAL IMPACT
Earthstone Energy is being acquired by Permian Resources, which could lead to changes in its operations and potentially its stock price.
As Earthstone Energy is being acquired, there could be changes in its operations and potentially its stock price. However, the impact is uncertain until the acquisition is completed and the plans for the company are revealed.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Permian Resources is acquiring Earthstone Energy, which could potentially expand its oil and gas assets.
The acquisition of Earthstone Energy could potentially expand Permian Resources' oil and gas assets, which could lead to increased revenues and profitability in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100