It's Not Over Until Big Mama Sings -- May 19, 2022

It's not over until Big Mama sings. Link here.

Earlier tonight, from the blog:

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Largest Pure-Play E&P In The Delaware Basin

In other news, https://oilprice.com/Latest-Energy-News/World-News/US-Shale-Merger-Creates-A-New-7-Billion-Giant.html.

Centennial Resource Development and Colgate Energy Partners III, LLC have agreed to combine in a $7.0-billion merger of equals, creating the largest pure-play exploration and production (E&P) firm in the Delaware Basin in the Permian.

The combined firm will be the largest pure-play E&P company in the Delaware Basin, with around 180,000 net leasehold acres, 40,000 net royalty acres, and total current production of approximately 135,000 barrels of oil equivalent per day (Boe/d).

The $7.0 billion merger of equals values Colgate at approximately $3.9 billion and is comprised of 269.3 million shares of Centennial stock, $525 million of cash, and the assumption of approximately $1.4 billion of Colgate’s outstanding net debt.