Earthstone Energy, Inc.
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- Earthstone Energy, Inc. (NYSE: ESTE) operates as a growth-oriented independent energy company engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids properties primarily in the Permian Basin; its core assets include the Midland Basin in West Texas, the Delaware Basin in New Mexico, and the Eagle Ford Shale trend in southern Texas, with proved reserves comprising substantial oil-equivalent volumes focused on high-return drilling opportunities. The company offers upstream exploration and production services targeting prolific shale plays, leveraging advanced technologies for resource recovery while optimizing operational efficiency across its acreage position. Founded in 1969 and headquartered in The Woodlands, Texas, Earthstone conducts operations exclusively in the United States, serving domestic markets with hydrocarbons from its strategically located portfolios. In a transformative development completed on November 1, 2023, Earthstone merged with Permian Resources Corporation in an all-stock transaction valued at approximately $4.5 billion including net debt, under which each Earthstone share converted to 1.446 shares of Permian Resources, resulting in delisting of ESTE from the NYSE and integration into Permian Resources' expanded Delaware Basin operations exceeding 400,000 net acres. This acquisition delivered synergies of about $175 million annually in operational, G&A, and financial efficiencies, enhancing scale with pro forma production near 300,000 barrels of oil equivalent per day and bolstering free cash flow profiles. Prior to the merger, Earthstone closed its $1.5 billion acquisition of Novo Oil & Gas Holdings in August 2023, expanding Delaware Basin exposure with additional high-quality acreage and production capacity.
Permian Resources Completes Acquisition of Earthstone Energy
Earthstone Energy, Inc. Reports 2023 Third Quarter and Year-to-Date Financial Results
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Earthstone Declares Cash Dividend
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Earthstone Announces Expiration of Hart-Scott-Rodino Act Waiting Period in Connection with Proposed Transaction
EARTHSTONE ENERGY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Earthstone Energy, Inc. - ESTE
Are Investors Undervaluing Earthstone Energy (ESTE) Right Now?
EARTHSTONE ENERGY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Earthstone Energy, Inc. - ESTE
Shareholder Alert: Ademi LLP investigates whether Earthstone Energy, Inc. has obtained a Fair Price in its transaction with Permian Resources
Permian Resources building scale with $4.5 billion Earthstone Energy deal, analysts say
Earthstone Energy shares jump 15% on Permian Resources deal
ESTE Stock Alert: The $4.5 Billion Reason Earthstone Energy Is Up Today
Earthstone Energy stock jumps as it agrees to be bought by Permian Resources
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ESTE Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Earthstone Energy, Inc. Is Fair to Shareholders
Permian Resources to acquire Earthstone Energy in $4.5 billion all-stock deal
Permian Resources to buy Earthstone Energy in $4.5 bln deal
Permian Resources to Acquire Earthstone Energy in All-Stock Transaction, Creating a $14 Billion Premier Delaware Basin Independent E&P