SM Energy (SM) in Advanced Talks to Acquire XCL Resources

The potential deal, valued at $3 billion, is expected to be announced in the coming days. XCL Resources is currently backed by EnCap Investments, a private equity firm specializing in the energy sector. The acquisition would include 45,000 net acres of XCL Resources' assets in the Uinta Basin, along with daily production rates estimated at 55,000 barrels of oil equivalent. Additionally, XCL Resources owns vital infrastructure for water transportation essential for energy production, which would further enha ...