Acacia Research Corp. (ACTG) has released an update.
Benchmark Energy II, LLC, a subsidiary of Acacia Research Corporation, has reached an agreement to acquire upstream assets and related facilities from Revolution Resources and its affiliates for $145 million, with customary post-closing adjustments. The transaction, expected to close in Q2 2024, involves a mix of cash on hand, new credit, and partner contributions, with the Company’s interest in Benchmark post-deal anticipated to be approximately 73.1%. Terms include a deposit into escrow and provisions for termination rights and customary closing conditions. The deal aims to enhance Benchmark’s footprint in the Texas and Oklahoma energy sectors.
For further insights into ACTG stock, check out TipRanks’ Stock Analysis page.
