Utah Shale Next Spot for Consolidation

June 28, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--SM Energy (NYSE:SM) (Denver, Colorado) will spend $2 billion to buy Utah shale assets from XCL Resources (Houston, Texas), while Northern Oil and Gas Incorporated (NYSE:NOG) (Minnetonka, Minnesota) will buy 20% of its assets for $510 million, for a combined $2.5 billion deal.