SM Energy in advanced talks to acquire XCL Resources, a Utah oil and gas producer, for $3B.
SM Energy is reportedly in advanced talks to acquire XCL Resources, a leading oil and gas producer in Utah, for approximately $3 billion. The deal would extend SM Energy's reach into the Uinta Basin, a rising oil and gas field, and follows a wave of mergers and acquisitions in the industry. XCL Resources has backers including EnCap Investments, and the potential acquisition is yet to be finalized.
June 27, 2024
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