As American shale patch mergers and acquisitions continue in the consolidation frenzy, oil producer Matador Resources Co has struck a deal to buy EnCap Investments' Permian basin assets for $1.9 billion in cash.
As American shale patch mergers and acquisitions continue in the consolidation frenzy, oil producer Matador Resources Co has struck a deal to buy EnCap Investments’ Permian basin assets for $1.9 billion in cash.
The acquisition is expected to close in the third-quarter of this year, and the initial announcement on Wednesday saw the company’s stock drop about half a percentage point. The deal follows another one earlier this week in which Noble Corporation agreed to buy Diamond Offshore Drilling in a stock-and-cash deal valued at $1.6 billion as the oil and gas mergers continue with the oilfield services sector.
Encap Permian Drilling Upstream Oil Oil Production
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