The dividend is conditional upon the closing of the transaction, expected Nov. 1, and is in accordance with the merger agreement. (Source: Shutterstock)
A little more than two months after Permian Resources Corp. announced its merger with Earthstone Energy Inc. for $4.5 billion in an all-stock transaction, Earthstone declared a special cash dividend of $0.14 per share of Class A and Class B common stock.
The dividend is conditional upon the closing of the transaction, expected Nov. 1, and is in accordance with the merger agreement.
The dividend from The Woodlands-based E&P is payable Nov. 6 to shareholders of record as of Oct. 31.
Additionally, the company stated that Permian Resources, Earthstone, their respective directors and executive officers may be deemed participants in the proxy solicitation in respect of the transaction.
Recommended Reading
Baker Hughes to Supply Petrobras' Presalt Fields with Flexible Pipe Systems
2024-10-28 - Baker Hughes said the systems will look to address the issue of corrosion cracking from CO2, which can arise as gas is reinjected into wells.
Smart Tech Moves to the Hazardous Frontlines of Drilling
2024-10-08 - In the quest for efficiency and safety, companies such as Caterpillar are harnessing smart technology on drilling rigs to create a suite of technology that can interface old and new equipment.
US Drillers Cut Oil, Gas Rigs for Fifth Week in Six, Baker Hughes Says
2024-09-20 - U.S. energy firms this week resumed cutting the number of oil and natural gas rigs after adding rigs last week.
E&P Highlights: Sept. 23, 2024
2024-09-23 - Here's a roundup of the latest E&P headlines, including Turkey receiving its first floating LNG platform and a partnership between SLB and Aramco.
Baker Hughes Defies Nature with an Upgrade to Ol’ Fashioned Cement
2024-10-15 - Baker Hughes’ InvictaSet uses regenerative capabilities to provide operators with a sustainable cement solution that can last for years.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.