PetroShale (TSE:LOU) has released an update.
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Vitesse Energy is set to acquire Lucero Energy in an all-stock transaction valued at $222 million, enhancing Vitesse’s financial standing and operational scope. The acquisition is expected to be immediately beneficial to Vitesse’s earnings and cash flow, with plans to increase the company’s annual dividend. Lucero’s operations in the Bakken region will add substantial production capabilities to Vitesse’s portfolio.
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