Vital Energy, Inc. acquired Granite Ridge Permian Basin Assets for $56.3 million.
February 01, 2024
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Vital Energy, Inc. (NYSE:VTLE) acquired Granite Ridge Permian Basin Assets for $56.3 million on December 21, 2023. The consideration will be paid of 561,752 shares of Vital Energy?s common stock and 541,155 shares of Vital Energy?s 2.0% cumulative mandatorily convertible preferred securities. The assets sold consisted of approximately 1,658 net acres and 45 gross (9.9 net) producing wells in the Permian Basin.
Vital Energy, Inc. (NYSE:VTLE) completed the acquisition of Granite Ridge Permian Basin Assets on December 21, 2023.
Granite Ridge Resources, Inc. is an oil and gas exploration and production company. It owns a portfolio of wells and top-tier acreage across the Permian and four other prolific unconventional basins across the United States. It holds interests in wells in core operating areas of the Permian, Eagle Ford, Bakken, Haynesville and Denver-Julesburg (DJ) plays. It owns an interest in approximately 2,826 gross (176.50 net) producing wells, 309,472. The Permian Basin extends from southeastern New Mexico into west Texas. The Permian Basin consists of mature legacy onshore oil and liquids-rich natural gas reservoirs. The Eagle Ford shale formation stretches across south Texas and includes Austin Chalk and Buda formations. The Williston Basin stretches through North Dakota, the northwest part of South Dakota, and eastern Montana. The Haynesville Basin is a premier natural gas basin located in Northwestern Louisiana and East Texas. The DJ basin is a geologic basin centered in eastern Colorado.
GRANITE RIDGE RESOURCES, INC. 
