SM Energy is advancing its presence in Utah's Uinta Basin through a significant acquisition. The company has announced a deal valued at approximately $2.55 billion to acquire shale assets in the region. As part of the transaction, Northern Oil and Gas will purchase a 20% stake for $510 million, giving SM Energy 80% ownership of the assets. Earlier reports suggested the deal could be worth $3 billion or $2 billion, but the final agreement stands at $2.55 billion. This acquisition highlights the strategic importance of the Uinta Basin for US shale drillers.
SM Energy announces acquisition of Uinta Basin assets for $2.55B, with Northern Oil & Gas purchasing 20% stake for $510M, giving SM Energy 80% ownership. #energynews #acquisition $NOG $OILT $PSCE
SM Energy and Northern Oil and Gas, two US shale drillers, agreed to acquire assets in Utah’s Uinta Basin for about $2.6 billion in cash https://t.co/qABk4gqplP
SM, Northern Oil Partner in $2.6 Billion Utah Shale Oil Deal #oott https://t.co/cjlVUefjSG
SM Energy buys XCL Resources' shale assets for $2 bln https://t.co/pkYmqjpnay https://t.co/VpA0KcsjXN
Breaking news: SM Energy is reportedly close to finalizing a $3 billion deal to acquire XCL Resources. Stay tuned for more updates on this developing story. #smenergy #xclresources #acquisition
SM Energy pushing into Utah's Uinta Basin with $3B deal for XCL Resources. - Bloomberg
SM Energy pushing into Utah's Uinta Basin with $3B deal for XCL Resources. https://t.co/BvRW3oCoyw