Carrizo Oil & Gas Inc. (NASDAQ: CRZO) is reportedly considering a merger with rival U.S. shale producer SM Energy Co. (NYSE: SM), according to a recent report by Bloomberg.
“Carrizo has held early-stage discussions with SM about a potential combination,” Bloomberg reported citing people familiar with the matter.
Carrizo Oil & Gas is a Houston-based energy company founded in 1993. The company currently operates in the Eagle Ford Shale in South Texas and in the Delaware Basin within the prolific Permian in West Texas.
Similarly, SM Energy’s two core operations include positions in the Eagle Ford Shale as well as the Permian’s Midland sub-basin. The Denver-based operator has roots stretching back more than a century to its inception in 1908.
SM Energy’s Eagle Ford acreage in South Texas is primarily located in Dimmit and Webb counties. Meanwhile, Carrizo’s position in the shale play stretches across Atascosa, Frio, Dimmit, La Salle, McMullen and Zavala counties, Texas.
As for the Permian Basin, SM Energy’s assets are located in Howard, Martin, Midland and Upton counties, Texas, while Carrizo’s acreage is mostly in Culberson, Reeves and Ward counties, Texas.
Recommended Reading
Grey Rock Agrees to $1.3 Billion Business Combination with Paul Ryan-backed SPAC
2022-05-16 - Grey Rock will contribute oil and gas assets in the Permian Basin, Bakken, Eagle Ford Shale, D-J Basin and Haynesville Shale plays to form Granite Ridge Resources.
Oil and Gas A&D Trends: Giddy or Giddy Up?
2022-03-23 - Chesapeake Energy’s recent vibe, to put a word to it, has been decidedly bubbly.
ConocoPhillips Continues Paring Assets with Potential Midcontinent Divestiture
2022-03-24 - ConocoPhillips is offering about 261,000 net acres in the Anadarko Basin and 17,700 acres of nonoperated assets in the SCOOP and STACK shale plays.
How Minerals Sellers Can Fetch Premium Prices for Their Property
2022-03-30 - The minerals space is rebounding following a turbulent few years, presenting lucrative opportunities for sellers looking to cash in on their oil and gas minerals rights.
Canyon Creek Energy C-Suite Chat: Heir to the Kingdom Builders
2022-03-30 - Canyon Creek Energy President and CEO Luke Essman recounts his company’s rebirth as the market crumbled underneath one of Oklahoma’s last build-and-flip acquirers.