Permian Resources has signed a deal to buy Earthstone Energy in an all-stock deal valued at $4.5 billion, which is expected to create a $14-billion premier producer in the Delaware basin in the Permian, the companies said on Monday. The value of the all-stock deal is inclusive of Earthstone’s net debt. Under the terms of the transaction, each share of Earthstone common stock will be exchanged for 1.446 shares of Permian Resources common stock. The deal is expected to boost Permian Resources’ position as a leading Delaware Basin independent…
