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Riverstone Energy Ltd - Guernsey-based investor in renewable and non-renewable energy companies - Says investee Permian Resources Corp, a Midland, Texas-based oil and gas company, agreed on Monday to acquire Woodlands, Texas-based Earthstone Energy Inc. The all-stock transaction is valued at about $4.5 billion, including Earthstone’s net debt. Riverstone says this will strengthen Permian’s position as a ‘leading’ exploration and production company. The transaction is expected to close during the fourth quarter.
Current stock price: 577.79 pence, up 1.0% in London on Wednesday
12-month change: down 10%
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