While it's inevitable that another basin snatches a ray of limelight from the Permian Basin from time to time,probably no one expected a rare run on Utah's Uinta Basin,where M&A has suddenly been heating up.Maybe Utah was due.The number of rigs in Utah has nearly doubled from six last April to 13 as of April 1,according to the Baker Hughes rig count.For perspective,the last major transaction involving the Uinta when Ovintiv Inc.(then Encana Corp.)purchased Newfield Exploration Co.'s assets in February 2019 for $5.5 billion and the assumption of $2.2 billion in debt.Times have changed but so have prices.Crescent Energy Co.on March 30 closed its acquisition of Uinta Basin assets in Utah previously owned by EP Energy for $690 million,a final number that was about 15% lower than the originally announced $815 million price tag.
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