Northern Oil and Gas, will acquire an undivided twenty percent (20%) of the oil and gas assets of XCL for $510 million, resulting in a $2.04 billion purchase price net to the Company for an undivided 80% interest of the assets . SM Energy intends to serve as the operator of the assets currently operated by XCL. The Company plans to finance the acquisition through a combination of debt and cash on hand.
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Read More on SM:
- SM ENERGY ANNOUNCES HIGHLY ACCRETIVE $2.0 BILLION UINTA BASIN ACQUISITION, 11% INCREASE TO FIXED DIVIDEND AND RELOADED $500 MILLION SHARE REPURCHASE PROGRAM
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