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Vital, NOG buy assets owned by Vortus-backed Point for $1.1B

Tulsa, Okla.-based Vital Energy Inc. announced Sunday it agreed with Northern Oil and Gas Inc. to acquire the assets of Vortus Investments-backed Point Energy Partners for $1.1 billion, boosting its operational scale and footprint in the Delaware Basin and adding oil-weighted inventory.

Separately, Minnesota-based NOG said its share of the purchase price is $220 million for a 20 percent undivided stake. Vital will own the other 80 percent.

Claire Poole

Claire Poole is a senior writer at The Texas Lawbook, where she covers corporate transactions.

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