Post merging with Earthstone Energy, Permian Resources has completed the liquidation of Canada’s Lynden Energy, a subsidiary of Earthstone. (Source: Shutterstock)
Post merging with Earthstone Energy, Permian Resources has completed the liquidation of Canada’s Lynden Energy, a subsidiary of Earthstone, according to a May 24 press release.
The liquidation will simplify its corporate structure and reduce go-forward tax obligations, Permian Resources said at the time of the Earthstone acquisition.
As a result of the liquidation, Permian Resources has applied to the British Columbia Securities Commission and the Ontario Securities Commission to cease being a reporting issuer in Canadian provinces British Columbia, Alberta and Ontario.
The liquidation has no impact on the company’s previously announced financial and operational results and guidance, Permian Resources said.
Permian Resources continues to be a reporting company under the Securities Exchange Act.
RELATED
Recommended Reading
US Drillers Cut Oil, Gas Rigs for Third Week in a Row
2024-10-04 - The oil and gas rig count fell by two to 585 in the week to Oct. 4.
EY: How AI Can Transform Subsurface Operations
2024-10-10 - The inherent complexity of subsurface data and the need to make swift decisions demands a tailored approach.
Bowman Consulting to Manage, Monitor Delaware Basin Wells
2024-10-14 - Bowman Consulting Group’s scope of work includes conducting detailed field surveys of above-ground infrastructure assets across well sites of up to to 8 acres.
E&P Highlights: Oct. 7, 2024
2024-10-07 - Here’s a roundup of the latest E&P headlines, including a major announcement from BP and large contracts in the Middle East.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.
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.