Empire Petroleum Announces Acquisition Of Additional Interests In New Mexico Units
Aug 10, 2023•over 2 years ago
Acquiring Company
Empire Petroleum
Acquired Company
Interests
Oil And GasEnergy
Description
Empire Petroleum (NYSE American: EP) (“Empire” or the “Company”), an oil and gas company with current producing assets in Texas, Louisiana, North Dakota, Montana, and New Mexico, today announced that on August 9, 2023, it closed on the acquisition of COERT Holdings 1 LLC’s (“COERT”) interests in Empire’s three New Mexico assets, Eunice Monument South Unit A, Eunice Monument South Unit B, and Arrowhead Grayburg Unit, all of which are located in Lea County (the “Transaction”).
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
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