Vital Energy and Northern Oil and Gas completed the acquisition of the shale assets from Point Energy Partners for $1.1bn.

Vital Energy, an American company engaged in hydrocarbon exploration, and Northern Oil and Gas, a real asset company that focuses on acquiring and investing in non-operated minority working and mineral interests in the hydrocarbon producing basins, completed the acquisition of the shale assets from Point Energy Partners, a company focused on acquiring and developing onshore US properties in basins with stacked multiple oil and gas reservoirs, for $1.1bn. "This bolt-on is a great fit for us, adding high-value inventory and production in the heart of our core operating areas. Furthermore, it expands our growing Delaware Basin position and balances our Permian operations. We expect to continue to demonstrate our ability to capture, integrate and create substantial value on acquired assets through optimised development plans, lower capital costs and proven operating practices, resulting in higher future cash flows,” Jason Pigott, Vital Energy President and CEO.