By Denny Jacob
Prairie Operating agreed to acquire the assets of Nickel Road Operating for a total consideration of $94.5 million.
Oil, natural gas and natural gas liquids company Prairie Operating said the consideration consists of $83 million in cash and $11.5 million in deferred cash payments.
Prairie said the acquisition is expected to be accretive to shareholders across key metrics including production, reserves and free cash flow.
“This acquisition increases and strengthens our overall position within a top-tier U.S. shale basin and aligns with our strategy of creating value through accretive acquisitions,” said Chief Executive Ed Kovalik.
Write to Denny Jacob at [email protected]
Read the full article here
