“EOG Resources to buy private energy co. in $2.5B deal”
Houston-based EOG Resources Inc. (NYSE: EOG) plans to gobble up a private energy company to expand its assets in the Permian and Powder River basins.
EOG announced Sept. 6 it plans to buy Artesia, New Mexico-based Yates Petroleum Corp. and some of its subsidiaries and other entities in an approximately $2.5 billion deal. Yates is a privately held crude oil and natural gas company that boasts about 1.6 million net acres across the western U.S.
Thompson & Knight LLP, Modrall Sperling Law Firm and Kemp Smith LLP acted as legal advisers to Yates.