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EnCap sells some assets of XCL Resources to SM Energy for $2 bln
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EnCap sells some assets of XCL Resources to SM Energy for $2 bln
Jun 27, 2024 4:36 AM

June 27 (Reuters) - SM Energy ( SM ) said on Thursday it had

agreed to buy some assets of shale-focused producer XCL

Resources for about $2 billion from private equity firm EnCap

Investments.

Northern Oil and Gas ( NOG ) would also buy 20% of the oil

and gas assets of XCL for $510 million, resulting in a total

deal value of $2.55 billion.

(Reporting by Seher Dareen in Bengaluru; Editing by Sriraj

Kalluvila)

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