Canadian firm Crescent Point Energy acquires US rival SilverBow Resources in a $2.1 billion deal.
Canadian oil and gas firm Crescent Point Energy is set to acquire US rival SilverBow Resources in a $2.1 billion deal amid ongoing consolidation in the industry. Both companies operate in the Eagle Ford shale in Texas. SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow, with an option to receive a portion of proceeds in cash at $38 per share, with a maximum cash consideration of $400 million.
May 16, 2024
6 Articles