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Crescent Vitality (NYSE: CRGY) stated Tuesday that it has agreed to purchase the operator’s rights and a progressive curiosity in current Western Eagle Ford belongings from Mesquite Vitality for $600 million in money.
Crescent ( CRGY ) stated the deal almost doubles its Eagle Ford operations stock and enormously will increase its scale within the play.
Professional forma of the deal: The corporate will enhance its legacy ~15% non-operating curiosity to a ~50% working curiosity within the acquired belongings and can handle ~90% of its place within the Eagle Ford.
Crescent ( CRGY ) additionally stated the deal provides to its predictable money movement base with present manufacturing of ~20k boe/d (70% liquids) and a 12-month decline fee of 17%.
Extra on Crescent Vitality:
