Cabot Oil & Gas and Cimarex Energy Agree to $17B Merger

Written By Monica Griffin

“Cabot Oil & Gas Corp (COG.N) and Cimarex Energy Co (XEC.N) on Monday agreed to merge to form a U.S. oil and gas producer with an enterprise value of about $17 billion, the latest deal in a sector rebounding from one of its worst downturns.

The deal frenzy reflects hopes to ride a recovery in oil and gas prices as fuel demand picks up from pandemic lows, while also allowing for savings by eliminating cost duplication.

The companies expect to save $100 million in annual general and administrative costs, beginning within 18 months to two years following the deal closing, set for the fourth quarter.”

read more here

https://www.oklahomaminerals.com/cabot-oil-gas-and-cimarex-energy-agree-to-17b-merger

Monica Griffin
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