Published on 5 Jan 2024 on Zacks via Yahoo Finance
Evolution (EPM) Expands Asset Base, Signs $43.5M Contract
Evolution Petroleum Corporation EPM, the U.S.-based independent energy company, has announced that it has entered into a deal to acquire non-operated oil and natural gas assets in Oklahoma in an attempt to diversify its asset base.
Per the agreement, the company will purchase assets in the SCOOP and STACK plays in central Oklahoma from Red Sky Resources III, LLC, Red Sky Resources IV, LLC and Coriolis Energy Partners I, LLC. The $43.5 million deal is the largest transaction of Evolution to date. The acquisition is expected to be completed in mid-February.