The focus for deals has become a way for oil and gas companies to create a stronger balance sheet that doesn’t allow for them to be caught off guard if prices weaken, says analyst.
The deal, along with a May acquisition Louisiana, brings Diversified’s acreage in the region to about 300,000 net acres.
Antero Resources Corp. says its days of growth are over, while other operators are still working to capitalize on growth after the pandemic slump.
With a stronghold in the Williston Basin, Northern Oil and Gas Inc. has recently added a large swath of Marcellus acreage from Reliance Industries and made a long-calculated move into the riches of the Permian Basin.
The acquisition—Vencer Energy’s first since its launch by energy trader Vitol last year—comprises Hunt Oil’s Midland Basin position covering 44,000 acres across the Permian in West Texas.
© 2021 Hart Energy. All rights reserved. Reproduction in whole or in part, in any form or medium without express written permission is prohibited.