Shares of Rosetta Resources (ROSE) ended the final
trading session of the week flat after trading with gains of up to 6% during the
session. The independent exploration and production company with operations in
the "Eagle Ford" and the "Alberta Basin" announced the acquisition of the
Permian Basin assets of Comstock Resources (CRK).
The Deal
Rosetta Resources announced that it has agreed to acquire some 53,306 net acres in West Texas from Comstock. The company will pay some $768 million for the assets, subject to customary closing adjustments. The fields currently produce some 3,300 barrels of oil, of which some 73% is oil.
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The Deal
Rosetta Resources announced that it has agreed to acquire some 53,306 net acres in West Texas from Comstock. The company will pay some $768 million for the assets, subject to customary closing adjustments. The fields currently produce some 3,300 barrels of oil, of which some 73% is oil.
Read the entire article on Seekingalpha by clicking the following link
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