Crescent Energy buys $815-million worth of US assets
SALT LAKE CITY, February 17, 2022 – Crescent Energy has agreed to purchase hydrocarbons-producing assets on the Uinta Block in Utah from Verdun Oil Company for USD 815 million, the US E&P company announced on Wednesday.
The assets formerly owned by EP Energy cover an area of around 587 square kilometres and include more than 400 producing wells.
The acquisition will increase Crescent Energy’s oil production in its mix by 5% to around 45%.
The deal is expected to close in H2 2022.