The acquisition will nearly double Ring's daily production from its Permian Basin assets while also creating another core growth area in West Texas.
Riverstone has spent the past two years beefing up companies in Norway, the Midcontinent, Mexico, the Bakken, Permian Basin and continues to make energy bets despite a down market.
Cimarex plans to sell 7 million shares, which may be used to accelerate drilling and completion work in the Delaware Basin and Cana-Woodford after the company cut rigs.
Potential buyers have had to cut employees, and so far few companies are going out of their way to aggressively buy frack fleets or other equipment.
After three years and $2.2 billion spent buying Eagle Ford, Permian and Arkoma Basin assets, Atlas plans to use $35 million in proceeds to pay down debt.
Gov. Greg Abbott signs a bill that erases November’s Denton, Texas, hydraulic fracturing ban but many ordinances, particularly subsurface oil and gas regulations, may also be history.