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Earthstone Energy + Permian Resources
Posted: Mon Sep 19, 2022 8:09 pm
by RTaber1
ESTE guided they will establish dividend and stock buyback before year-end.
What is the likelihood they will do another deal before then?
Doesn't Permian Resources look pretty obvious for someone like ESTE?
Re: Earthstone Energy + Permian Resources
Posted: Tue Sep 20, 2022 3:26 pm
by dan_s
Permian Resources is a larger company than ESTE, plus Earthstone is focused on acquiring private companies with a combination of cash and stock. It gives owners of the private company liquidity and the upside of ESTE.
Earthstone is likely to make more acquisitions, but the last two (Bighorn and Titus) are very big deals and it will take some time for their assets and people to be integrated into the Company. I did this kind of work for Hess, "Post Acquisition integration" is hard work.