Big Law
A $5.7 Billion U.S. Shale Giant Has Been Created in a New Merger
In the latest merger in the U.S. oil and gas industry, Independence Energy and Contango Oil & Gas Company announced Tuesday an all-stock deal to combine operations in a new business with an enterprise value of around $5.7 billion.
Independence Energy was built and managed by KKR’s Energy Real Assets team with assets across the Eagle Ford, Rockies, Permian, and Mid-Continent.
Fort Worth, Texas-based Contango Oil & Gas has producing assets in most of Independence Energy’s focus areas—in the Mid-Continent, Permian, and Rockies areas.
The all-stock transaction will create a premier, diversified, and low leverage U.S. independent oil and gas company focused on consolidation, the companies said.
