What's next for the nation's hottest oil play: The Permian Basin? Find out in this A&D Minute with Hart Energy LIVE. SM Energy is expanding its footprint in the Permian with another multimillion-dollar acquisition to add another 20,000 net acres in the Midland Basin where SM has already been bolting on acreage, we anticipate more Permian consolidation on the way. Do you?
CNX Resources is offloading non-operated oil and gas interests to an undisclosed buyer. The Appalachian natural gas company said the deal is expected to generate cash proceeds of $125 million. The sale is expected to support their capital allocation plans, including repaying debt and buying back stock.
And where else might Riverbend Energy Group expanded its portfolio? They returned as a buyer in the Williston Basin after exiting from its non-operated position nearly a year ago. They said they acquired sizable non-operated working interests in the Williston core, but didn't disclose the financial terms. And they also said its recent deals make the rebuilding of Riverbend's non-op strategy.
That's your A&D Minute from Hart Energy Studios. Be the first to watch new episodes every Wednesday with our A&D Watch newsletter. Sign up at hartenergy.com/transactions.
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