EnCap sells some assets of XCL Resources to SM Energy for $2 bln

Northern Oil and Gas

27/06/2024 12:09

June 27 (Reuters) - SM Energy said on Thursday it had
agreed to buy some assets of shale-focused producer XCL
Resources for about $2 billion from private equity firm EnCap
Investments.
    Northern Oil and Gas  NOG.N  would also buy 20% of the oil
and gas assets of XCL for $510 million, resulting in a total
deal value of $2.55 billion.

 (Reporting by Seher Dareen in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832
70128;))