Crescent Energy Company announced this month their acquisition of high-margin oil assets in the Uinta Basin. According to the announcement, Crescent Energy entered into a definitive purchase agreement with Verdun Oil Company II LLC to acquire Uinta Basin assets previously owned by EP Energy for $815 million dollars. The all-cash transaction is expected to close in the first half of 2022. “The acquisition is consistent with Crescent’s strategy to acquire high-value & accretive, cash flowing assets while maintaining financial strength,” shares the announcement. Crescent plans to share additional information on the transaction in early March.
