Permian Resources has announced plans to acquire Earthstone Energy in an all-stock transaction.
Permian Resources Corp.’s planned $4.5 billion acquisition of Earthstone Energy Inc. will bring scale to the Midland, Texas-based oil and natural-gas company, analysts say.
“Given the ramp up in the valuations in private equity assets over the last year, public company [mergers and acquisitions] is starting to look like a more attractive proposition for buyers to build scale versus targeting private equity deals,” Andrew Dittmar, director of Enverus Intelligence Research, said in a statement emailed to MarketWatch.
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