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George Solich’s FourPoint will join forces with Double Eagle to form DoublePoint with more than 70,000 acres in the core of the Midland Basin.
Cabot CEO Dan Dinges said the sale will accelerate the value of its Eagle Ford assets, which struggled to compete for capital next to its Marcellus position due to low oil prices.
The asset sales include the divestiture of about 119,400 net acres in Divide County, N.D., marking the Denver-based oil and gas producer's exit from the Williston Basin.