Sitio Royalties Corp. agreed to acquire rival US oil and gas rights company Brigham Minerals Inc. in an all-stock merger valued at about $1.5 billion.
(Bloomberg) — Sitio Royalties Corp. agreed to acquire rival US oil and gas rights company Brigham Minerals Inc. in an all-stock merger valued at about $1.5 billion.
Brigham investors will get 1.133 Sitio shares for each Brigham share, the companies said Tuesday in a statement.
Brigham’s shares have climbed 39% this year, giving the company a market value of about $1.78 billion. Sitio has a market value of $2.1 billion after its stock has gained 29% this year.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
