US player EOG Resources is paying $2.5 billion to acquire privately held operator Yates Petroleum and its large position in the red-hot Delaware sub-basin of the Permian in New Mexico.
The purchase price, which includes Yates and related companies Abo Petroleum and MYCO Industries, will primarily be covered through an issue of 26.06 million common shares — valued at $2.3 billion — and a net payment of $151 million cash.
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