Earthstone Acquires Warburg-backed Midland Basin Operator

摘要

EARTHSTONE ENERGY Inc. completed a cash-and-stock transaction on Jan. 7 to acquire Independence Resources Management LLC (IRM), a privately held Midland Basin E&P company backed by Warburg Pincus LLC. The transaction, valued at about $185.9 million, is expected to roughly double both Earthstone's production and adjusted EBITDAX with minimal impact to leverage, according to Robert J. Anderson, the company's president and CEO.