Two Multi-$Billion deals announced this week - Sept 8

Two Multi-$Billion deals announced this week - Sept 8

Postby dan_s » Thu Sep 08, 2022 12:46 pm

"It’s always interesting to observe how priorities tend to change in the midst of a crisis. Virtue signaling is out; financial performance is in."

Forbes: Billion-dollar deals break out across the shale patch.
Just when it appeared the news in the energy world could not become any more hectic, two multi-billion-dollar merger deals among big U.S. shale companies were announced within hours of one another. The “bigger is better” theme invoked in similar deals this year continues to game steam amid an increasingly uncertain business climate and evolving global energy crisis. Tuesday first saw Denver-based Sitio Royalties announce that it had reached a definitive agreement to combine with Austin-based Brigham Minerals, creating a company that will boast a combined enterprise value of $4.8 billion. The company, which will continue under the Sitio Royalties name, will own almost 260,000 acres of leasehold, most of which resides in the Permian Basin, the most prolific and active shale oil and gas region on the planet.

Read more: https://www.forbes.com/sites/davidblackmon/2022/09/07/billion-dollar-deals-break-out-across-the-shale-patch/?sh=22302f5d3ad6
Dan Steffens
Energy Prospectus Group
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