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Permian Resources to Acquire Earthstone Energy in All-Stock Transaction

Deals & Cases
August 21, 2023
Deals & Cases
August 21, 2023

Vinson & Elkins advised Earthstone Energy, Inc. (“Earthstone”), a growth-oriented, independent upstream energy company, in its entry into a definitive agreement with Permian Resources Corporation (“Permian Resources”) under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt.

Under the terms of the transaction, each share of Earthstone common stock will be exchanged for a fixed ratio of 1.446 shares of Permian Resources common stock.

The Vinson & Elkins team was led by partners Doug McWilliams, Lande Spottswood and senior associate Mariam Boxwala, with assistance from associates Charlie Fitzpatrick, Chase Browndorf, Michelle Yang, Nick Ashipa and Waleed Vohra. Also advising on the deal were partners Thomas Zentner, John Grand, Sarah Mitchell and senior associates Alex Robertson and Alex Turner; partners Lina Dimachkieh and John Lynch, counsel Allyson Seger and associate Keleigh Carver; partner David D’Alessandro, counsel Regina Ibarra and associates Mary Daniel Morgan and Kenneth Strain; partner Sean Becker and associates Peter Goetschel and Ashley Plunk; partner Hill Wellford, counsel Evan Miller and associate Rami Rashmawi; partner James Longhofer and associate Frank George; and partner Matt Dobbins and associate Ryan Vanderlip.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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