Publicly traded Earthstone Energy Inc. said Thursday it has entered a deal to acquire the assets of privately held Chisholm Energy Holdings LLC in the New Mexico portion of the Permian Basin in a $604 million cash-and-stock deal.

Permian Basin

Net production from the assets in the northern Delaware sub-basin stands at 13,500 boe/d, with oil and liquids accounting for 61% and 79%, respectively. The assets span about 36,100 net acres in Eddy and Lea counties.

“The Chisholm Acquisition caps off a series of highly-accretive and value-adding transactions that have dramatically transformed Earthstone during 2021 and further establishes Earthstone as a Permian Basin focused company with increasing scale,” said Earthstone CEO Robert Anderson. “When this acquisition is combined with the previous...