Aug 21 (Reuters) - Earthstone Energy Inc:

* PERMIAN RESOURCES TO ACQUIRE EARTHSTONE ENERGY IN ALL-STOCK TRANSACTION, CREATING A $14 BILLION PREMIER DELAWARE BASIN INDEPENDENT E&P

* PERMIAN RESOURCES CORP - PROPOSED DEAL FOR ALL-STOCK TRANSACTION VALUED AT APPROXIMATELY $4.5 BILLION

* PERMIAN RESOURCES CORP - UNDER TERMS OF TRANSACTION, EACH SHARE OF EARTHSTONE COMMON STOCK WILL BE EXCHANGED FOR A FIXED RATIO OF 1.446 SHARES OF PERMIAN RESOURCES COMMON STOCK

* PERMIAN RESOURCES CORP - TRANSACTION IS EXPECTED TO BE ACCRETIVE TO ALL RELEVANT PER SHARE METRICS

* PERMIAN RESOURCES CORP - DEAL EXPECT TO ACHIEVE SYNERGIES THAT WILL DRIVE ABOUT $175 MILLION OF ANNUAL CASH FLOW IMPROVEMENT

* PERMIAN RESOURCES CORP - EXPECT TO ACHIEVE SYNERGIES THAT WILL DRIVE ABOUT $175 MILLION OF ANNUAL CASH FLOW IMPROVEMENT FROM DEAL

* PERMIAN RESOURCES CORP - EXPECTS TRANSACTION TO DELIVER ACCRETION TO FREE CASH FLOW PER SHARE OF OVER 30% PER YEAR DURING NEXT TWO YEARS

* PERMIAN RESOURCES CORP - UPON CLOSING OF TRANSACTION, PERMIAN RESOURCES' BOARD OF DIRECTORS WILL BE EXPANDED TO CONSIST OF ELEVEN DIRECTORS

* PERMIAN RESOURCES CORP - EXPECTS TRANSACTION TO DELIVER ACCRETION TO FREE CASH FLOW PER SHARE OF OVER 25% DURING NEXT FIVE AND TEN-YEAR PERIODS

* PERMIAN RESOURCES CORP - SECURED A $500 MILLION INCREMENTAL COMMITMENT UNDER ITS CREDIT FACILITY FROM WELLS FARGO BANK

* PERMIAN RESOURCES CORP - PLANS TO INCREASE ITS QUARTERLY BASE DIVIDEND BY 20% TO $0.06 PER SHARE BEGINNING WITH ITS Q1 2024

* PERMIAN RESOURCES CORP - AFTER CLOSING, EXISTING PERMIAN RESOURCES SHAREHOLDERS WILL OWN APPROXIMATELY 73% OF COMBINED COMPANY

* PERMIAN RESOURCES CORP - EXPECTS TO HAVE PRO FORMA LIQUIDITY OF OVER $1.0 BILLION AT CLOSING

* PERMIAN RESOURCES CORP - AFTER CLOSING DEAL, EXISTING EARTHSTONE SHAREHOLDERS WILL OWN APPROXIMATELY 27% OF COMBINED COMPANY

* PERMIAN RESOURCES CORP - EXCHANGE RATIO REPRESENTS IMPLIED VALUE TO EACH EARTHSTONE STOCKHOLDER OF $18.64 PER SHARE

* PERMIAN RESOURCES- DURING 2024, COMBINED CO EXPECTS TO ALLOCATE APPROXIMATELY 90% OF CAPITAL TO HIGH RATE-OF-RETURN PROJECTS IN DELAWARE BASIN Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)