EOG Acquires Yates Petroleum for $2.5 Billion
EOG Resources announced on Sept. 6 the acquisition of Yates Petroleum for $2.5 billion. The transaction significantly increases EOG’s footprint in the Permian and Powder River basins and increases the company’s “premium†drilling inventory (defined as locations that deliver after-tax returns of at least 30% at $40 oil) by 40%.ÂEOG will fund the deal with 26 million shares of common stock (approximately 5% of shares outstanding) and the assumption of approximately $150 million of net debt. Aside...
EOG Resources, together with its subsidiaries, explores for, develops, produces and markets crude oil, natural gas liquids and natural gas primarily in main producing basins in the United States, The Republic of Trinidad and Tobago, The People's Republic of China, Canada and, from time to time, select other international areas.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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