EXCLUSIVE-Crescent Energy nears deal for US shale peer Vital Energy, sources say
By Shariq Khan and David French
NEW YORK, Aug 22 (Reuters) - Crescent Energy CRGY.N is in advanced talks to acquire smaller peer Vital Energy VTLE.N, people familiar with the matter said on Friday, in a deal that will bolster the energy producer's position in the Permian Basin.
Terms of the combination could not be learned, but a transaction could be announced as soon as next week, said the sources, who cautioned a deal could still fall apart at the last minute and spoke on condition of anonymity to discuss private deliberations.
Crescent Energy had a market value of around $2.5 billion, while Vital Energy is worth around $600 million. Vital also carries around $2.3 billion of long-term debt.
Vital did not immediately respond to a request for comment. Crescent declined to comment.
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