Sitio Royalties Corp. is in advanced talks to acquire oil and gas rights company Brigham Minerals Inc., according to people familiar with the matter.
(Bloomberg) — Sitio Royalties Corp. is in advanced talks to acquire oil and gas rights company Brigham Minerals Inc., according to people familiar with the matter.
An agreement could be announced as soon as Tuesday, said the people, who asked not to be identified because the information was private. A final agreement hasn’t been reached and talks could still end without one, they said.
A spokesperson for Sitio didn’t have an immediate comment. A representative for Brigham didn’t immediately respond to a request for comment.
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 shares have gained 29% this year.
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