EOG Snaps Up Private Permian Gas, Oil Producer Yates Petroleum

摘要

EOG Resources is acquiring privately held Yates Petroleum for $2.5 billion, expanding its oil and natural gas footprint in the Permian Basin of West Texas and New Mexico and the Powder River Basin of Wyoming. The deal gives EOG an additional 29,600 barrels of oil equivalent per day of output across 1.6 million net acres, consisting of 14,200 barrels per day of oil and 90 million cubic feet per day of gas. It is the fourth largest upstream deal globally this year and the second largest in the US, according to 1Derrick's M&A database.