Southwestern Strikes All-Stock Deal for Appalachian Pure-Play Montage

摘要

Southwestern Energy Co. agreed to acquire Montage Resources Corp. in an all- stock deal that would create the third largest oil and natural gas producer in the Appala- chian Basin, with 3 Bcfe/d of combined production. The deal is valued at $857 million, including debt, according to Raymond James & Associates Inc. It would give the Houston-based independent another 324,500 acres and entry into Ohio, where Montage assets are to the north of South- western properties in West Virginia. South- western would also gain a footprint in Tioga County, PA, which is west of other acreage it has in the northeastern part of the state. The combined company would hold more than 786,000 net acres spread across Ohio, Pennsylvania and West Virginia.