US-based oil and gas producer RingEnergy REI recently agreed to buy the Central Basin Platform (“CBP”) assets of privately-held upstream company Founders Oil & Gas IV. The transaction, valued at $75 million, further solidifies Ring’s presence in the Permian Basin and enhances its operational capabilities. The acquisition — to conclude by Sep 30 — is expected to be immediately accretive and bring various benefits to the company’s shareholders.
The total transaction value comprises $60 million in cash to be paid at closing, and an additional deferred cash payment of $15 million, which will be due four months after the closing


