Whiting Petroleum in deal talks with smaller rival Abraxas Petroleum -sources
14/10/2019 22:23
By Arathy S Nair and Jessica Resnick-Ault
Oct 14 (Reuters) - Whiting Petroleum Corp WLL.N , an oil
and gas producer with operations in North Dakota and Colorado,
is in deal talks with San Antonio-based Abraxas Petroleum Corp
AXAS.O , two people familiar with the matter told Reuters.
A deal would increase Whiting's acreage in the
second-largest U.S. shale field by output and spread its
overhead costs over greater production, according to one of the
people, who spoke on the condition of anonymity as the talks are
not yet public.
(Reporting By Jessica Resnick-Ault and Arathy Nair; additional
reporting by Jennifer Hiller in Houston; Editing by Sandra
Maler)
((Jessica.Resnick-Ault@thomsonreuters.com; 646-223-6052;))
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