U.S. oil and gas producer Coterra Energy said on Wednesday it would acquire certain assets of Avant Natural Resources and its affiliates and Franklin Mountain Energy in New Mexico for an aggregate consideration of $3.95 billion in cash and stock deals.
The transactions are expected to close during the first quarter of 2025.
The company said the deals would add total equivalent production of 60,000 to 70,000 barrels of oil equivalent per day to Coterra’s output.
(Reporting by Sourasis Bose in Bengaluru; Editing by Krishna Chandra Eluri)