Crescent Energy and SilverBow have entered into a definitive agreement pursuant to which Crescent will acquire SilverBow in a transaction valued at $2.1 bi.
More than 90% of the Utah Ute tribe’s income is from energy development on its 4.5-million-acre reservation and the tribe says XCL Resources’ bid to buy Altamont Energy shouldn’t be blocked.
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.
At the time of the transaction’s announcement in February, Crescent Energy had said total cash consideration for the Uinta Basin assets in Utah previously owned by EP Energy was approximately $815 million.