Deal Insight

Cimarex acquires Resolute for US$1.77 billion

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20 November 2018

Cimarex acquires Resolute for US$1.77 billion

Report summary

Permian consolidation continues as Cimarex Energy has agreed to acquire Resolute Energy in a stock and cash deal for US$1.6 billion, including US$710 million of long-term debt. Our standard inclusion of working capital adjustments increases the consideration to US$1.8 billion. The consideration price of US$35 per share represents a 15% premium to Resolute's share price of US$30.39 on the previous day of trading before the deal announcement. Unlike many recent transactions, both stock prices were up on the announcement.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

  • Executive summary: Table 1
  • Delaware Basin Wolfcamp A oil-in-place (STOIIP) map with Cum365 gas-to-oil ratio (GOR)
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Cimarex acquires Resolute for US$1.77 billion

    PDF 978.19 KB

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