Penn Virginia Corporation PVAC announced that it entered a merger agreement to acquire Lonestar Resources US Inc. in an all-stock deal.The transaction value is estimated at $370 million, which involves 5.9 million shares of Penn Virginia common stock and the assumption of $236 million of Lonestar's net debt.Per the terms of the deal, Lonestar shareholders will receive 0.51 shares of Penn Virginia common stock for each of its outstanding shares. The all-stock deal has been unanimously approved by both companies' boards of directors.The transaction, which is subject to customary closing conditions, is expected to close in the second half of 2021. Following the deal closure, Penn Virginia shareholders will own 87% of the merged entity, while Lonestar shareholders will own the rest.Penn Virginia continues to expand its Eagle Ford footprint, with the acquisition of high-quality assets of Eagle Ford operator, Lonestar. The transaction strengthens Penn Virginia’s position as a leading Eagle Ford operator and will provide additional scale and synergies. The company’s impressive financial position and additional scope will provide potential consolidation opportunities.The transaction fits well with Penn Virginia’s strategy and is expected to enhance free cash flow generation and other key financial metrics to deliver long-term value to shareholders. The acquisition increases its inventory locations by 50% to 750 gross locations, and is likely to increase estimated 2021 sales volumes and free cash flow by 50%. It is also expected to increase the company's market capitalization by 15%.The merged entity is expected to achieve annual synergies of more than $20 million and will operate more efficiently than each standalone company.Company Profile & Price PerformanceHeadquartered in Houston, TX, Penn Virginia is an upstream company, which is engaged in the exploration, development and production of oil, NGLs and natural gas.Shares of the company have outperformed the industry in the past six months. Its stock has gained 73.1% compared with the industry’s 50.2% growth. Image Source: Zacks Investment Research Zacks Rank & Other Stocks to ConsiderPenn Virginia currently sports a Zack Rank #1 (Strong Buy).Some other top-ranked players in the energy space are Cheniere Energy Partners, LP CQP, Magellan Midstream Partners, L.P. MMP and China Petroleum & Chemical Corporation SNP, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Cheniere Energy’s 2021 earnings are expected to rise 30.9% year over year.Magellan’s 2021 earnings are expected to increase 7.4% year over year.China Petroleum’s 2021 earnings are expected to rise 14% year over year. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Magellan Midstream Partners, L.P. (MMP): Free Stock Analysis Report China Petroleum & Chemical Corporation (SNP): Free Stock Analysis Report Cheniere Energy Partners, LP (CQP): Free Stock Analysis Report Penn Virginia Corporation (PVAC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research