Permian Resources positioned to become the third largest Permian pure-play large cap
Permian Resources is acquiring Earthstone Energy in an all-stock transaction worth US$4.5 billion. This is a transformational move for Permian Resources. The company will emerge as a US large-cap E&P and joins Diamondback and Pioneer Natural Resources as just the third Permian pure-play within that peer set. The deal is an illustration of the speed at which nimble smaller operators can build US unconventional scale.