Noble Energy is expanding its core Permian basin holdings through the acquisition of Clayton Williams Energy for $2.7 billion in cash and stock.
The deal will create the industry’s second-largest acreage position in the southern part of the Permian’s Delaware sub-basin, Noble Energy president and chief executive David Stover said.
Under the terms of the deal, Noble Energy will get 4200 drilling locations on about 120,000 net acres, with over 2 billion barrels of oil equivalent in net unrisked resource.
