Very important Vitality to purchase Level Vitality in $1.1B deal, Northern Oil to take 20% stake (NYSE:VTLE)

Very important Vitality (NYSE:VTLE) stated Sunday it agreed to accumulate personal equity-owned Level Vitality Companions in an all-cash deal valued at $1.1B, increasing its place within the Permian Basin.

Below the deal phrases, Very important Vitality (VTLE) will purchase 80% of Level Vitality’s property, and Northern Oil and Fuel (NOG) will purchase the remaining 20%.

Oklahoma-based Very important Vitality (VTLE) operates 266K internet acres in each the Delaware and Midland parts of the Permian Basin; Level Vitality operates ~20K acres within the Delaware a part of the Permian Basin and produces 40K boe/day.

Very important Vitality (VTLE) stated it expects to fund its $820M portion of the deal by way of the usage of its credit score facility, which was not too long ago expanded to $1.5B.