KKR & Co’s (KKR.N) Independence Energy LLC and Contango Oil & Gas Co (MCF.A) will merge in an all-stock deal to create a consolidation-focused oil and gas company with an enterprise value of about $5.7 billion.
Deal-making in the sector has been on the rise as a vaccination-led recovery in demand has boosted oil and gas prices after one of the worst energy downturns in history.
The companies see “large and attractive” opportunities among the large cap independent and small sub-scale public companies as well as private companies that are seeking liquidity, executives said in call with analysts on Tuesday.
Read more/Source: Reuters
