Colgate Energy Partners to acquire Luxe Energy.

Colgate Energy Partners, an exploration and production company, agreed to acquire Luxe Energy, an oil and gas company. Financial terms were not disclosed. “The acquisition of Luxe is a transformational event that positions Colgate as one of the largest private companies in the Permian. It allows both Colgate and Luxe stakeholders to take advantage of increased scale while generating substantial free cash flow. This transaction enhances our already best-in-class balance sheet and puts us in a position of strength as we look to opportunistically pursue further consolidation,” James Walter, Co-Chief Executive Officer of Colgate.