PURE PERMIAN PLAY RODSTAR PATCH

shale patch after Occidental and Anadarko completed in August one of the largest oil deals of the past few years. Altus and EagleClaw Announce All-Stock Business Combination Creates a Leading Pure-Play Permian Integrated Midstream Company With a Capital Return Focus: Combination forms the largest integrated mids. David Blackmon ApPioneer Natural Resources (NYSE:PXD) announced on April 26 that it was engaged in advanced negotiations to sell the last remaining non-Permian Basin asset in its portfolio, a suite of joint venture properties in the Eagle Ford. by email protected Hew-Tex, Uncategorized. The Callon and Carrizo deal was expected to be the litmus test of a possible new wave of mergers and acquisitions (M&A) in the U.S. Pioneer Natural Resources Clears the Path to Become a Pure Permian Play. As such, although Paulson no longer opposes the transaction, it has reduced its investment position in Callon,вЂќ the fund manager said. вЂњWhile Paulson believes that a pure Permian focused producer would be a more attractive alternative, Paulson respects that different shareholders might have different viewpoints on this matter.

The revised merger terms were satisfactory to Paulson, which said today it no longer opposes the deal, but it cut its shareholding in Callon, although it was unclear by how much. Paulson has argued that the initially proposed steep premium was not worth the spend, and Callon would no longer be a pure Permian play producer after picking up Carrizo. In an effort to save the deal, Callon and Carrizo amended the terms of the deal last week, cutting the exchange ratio for the all-stock merger, which now implies a much lower premium for Carrizo shareholders-6.7 percent, compared to 25 percent premium in the initial terms of the deal. The terms of the initial deal valued Carrizo at US$1.2 billion.Д«ut Paulson has been opposing the terms of the proposed deal, saying that a standalone Callon would be less risky by focusing just on the Permian. The first announcement of the proposed merger was made in July.

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