Yates Petroleum: NM independent energy giant being acquired in $2.5B deal

One of the most influential oil and gas companies in New Mexico is combining with a Houston-based oil giant. EOG Resources (NYSE: EOG) is acquiring Artesia-based Yates Petroleum Corp. in a deal valued at $2.5 billion, according to a press release. Yates is the largest New Mexico-based independent oil producer by holdings. Under the terms of the deal, which is a private, negotiated transaction, EOG will issue Yates 26.06 million shares of common stock valued at $2.3 billion and pay $37 million in...