The average full-cycle breakeven for U.S. shale basins is approximately $54/bbl, while the average for public E&Ps and private operators is $53/bbl and $58/bbl, respectively, Wells Fargo said, citing Rystad Energy data.
Crescent Energy (CRGY)+4.1% pre-market after agreeing to acquire oil assets in Utah's Uinta Basin for $815M in a deal with Verdun Oil Company II LLC; the assets were previously owned.
Crescent Energy Company has entered into a definitive purchase agreement with Verdun Oil Company II LLC to acquire Uinta Basin assets previously owned by EP Energy for $815 million.