SM Energy and Northern Oil and Gas completed the acquisition of Uinta Basin oil and gas assets from EnCap and Rice-backed XCL Resources for $2.55bn.

SM Energy, an independent oil and gas exploration and production company, and Northern Oil and Gas, an independent energy company, completed the acquisition of Uinta Basin oil and gas assets from EnCap and Rice-backed XCL Resources, an independent oil and gas company, for $2.55bn. "We are excited to add a third core area of very high-quality assets to the SM portfolio. We look forward to welcoming new employees to the SM team from XCL Resources and Altamont Energy and to working in our new Utah communities. The Uinta Acquisitions add significant scale and long-term value creation opportunity for SM Energy via high-quality, oily stacked pay with outstanding well economics," Herb Vogel, SM Energy Company President and Chief Executive Officer.