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Completed

Acacia-backed Benchmark Energy completed the acquisition of certain upstream assets and related facilities in Texas and Oklahoma from Revolution Resources for $145m.

Financials

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Transaction Value£115m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Majority

Private

Acquisition

Infrastructure

Completed

Friendly

Single Bidder

natural resources extraction

Integrated Oil and Gas

United States

Synopsis

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Acacia-backed Benchmark Energy, an independent oil and gas company, completed the acquisition of certain upstream assets and related facilities in Texas and Oklahoma from Revolution Resources, an Oklahoma based, privately funded E&P company, for $145m. “The acquisition of these assets represents a transformative moment in Benchmark Energy’s history and an important next step in our partnership with Acacia and McArron. This unique asset is expected to deliver attractive, mature production with multiple drivers to enhance value. After closing this acquisition, Benchmark will have a large, contiguous acreage position in the heart of the Mid-Continent, and incremental scale to continue driving meaningful operational enhancements to create attractive returns for our stakeholders for many years to come,” Kirk Goehring, Benchmark Energy CEO

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