Cabot Oil & Gas, Cimarex Energy to merge to create $17 bln producer
05/24/2021 | 06:49am EDT
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May 24 (Reuters) - Cabot Oil & Gas Corp and Cimarex
Energy Co on Monday agreed to merge to form a U.S. oil
and gas producer with an enterprise value of about $17 billion,
the latest deal in a sector rebounding from one of its worst
downturns.
The deal frenzy reflects hopes to ride a recovery in oil and
gas prices as fuel demand picks up from pandemic lows, while
also allowing for savings by eliminating cost duplication.
The companies expect to save $100 million in annual general