Haynes and Boone served as legal counsel to Earthstone Energy in its acquisition of Permian Basin operator Chisholm Energy Holdings LLC in a cash-and-stock transaction worth over $600 million. The deal, announced on Dec. 16, marks Earthstone’s fifth acquisition in the past 12 months.

The Haynes Boone deal team included Austin Elam, Partner and Co-Chair of the Oil and Gas Practice Group, Kim Mai and Camie Carlock.

“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,” Robert J. Anderson, president and CEO of Earthstone, commented in a company release.

The multimillion-dollar acquisition of Chisholm Energy, majority owned by Warburg Pincus, will expand Earthstone Energy’s Permian footprint into the Delaware Basin. In total, Earthstone expects the Chisholm acquisition to increase its Permian Basin acreage footprint by over 35% to roughly 138,000 net acres.

Haynes Boone’s Oil and Gas team represents domestic and foreign public and private companies that conduct operations across the country in the domestic resource plays and shale plays (including the Eagle Ford, Barnett, Haynesville, Wolfberry, Marcellus, Utica, Niobrara, Woodford, and Bakken/Three Forks) and internationally.