Vital Energy, in partnership with Northern Oil and Gas (NOG), signed an agreement to acquire Point Energy’s assets in an all-cash transaction for a total consideration of US $1.1 billion. Under the terms of the agreement, the two companies will acquire Point Energy’s assets in an all-cash transaction for total consideration of $1.1 billion. Vital Energy agreed to acquire 80% of Point’s assets, with NOG acquiring the remaining 20%. Closing price adjustments are expected to total approximately $75 million, reducing total consideration to approximately $1.025 billion. Vital Energy expects to fund its $820 million portion, net of expected purchase price adjustments, using its credit facility, which was recently expanded to $1.5 billion.
