EOG与Yates达成合并协议

EOG Resources, Inc. (NYSE: EOG) (EOG) and Yates Petroleum Corporation today announced definitive agreements under which EOG has agreed to combine with Yates Petroleum Corporation, Abo Petroleum Corporation, MYCO Industries, Inc. and certain other entities (collectively, Yates). Under the terms of this private, negotiated transaction, EOG will issue 26.06 million shares of common stock valued at $2.3 billion and pay $37 million in cash, subject to certain closing adjustments and lock-up provisions. EOG will assume and repay at closing $245 million of Yates debt offset by $131 million of anticipated cash from Yates, subject also to certain closing adjustments.

‘This transaction combines the companies’ existing large, premier, stacked-pay acreage positions in the heart of the Delaware and Powder River basins, paving the way for years of high-return drilling and production growth,’ said William R. ‘Bill’ Thomas, Chairman and Chief Executive Officer of EOG. ‘We are excited by this unique opportunity to advance EOG’s strategy of generating high-return growth by developing premium wells at low costs that enhance long-term shareholder value.