On March 15, 2013, Rosetta Resources (ROSE) announced a $768 million Permian Basin acquisition from Comstock Resources (CRK). The transaction was a significant move for Rosetta, at the time of the announcement predominantly an Eagle Ford-focused operator with market capitalization of $2.6 billion. The acquisition established a second oil-driven operating area for the company and promises to open the next chapter in Rosetta's growth story.
Strategically, Rosetta views this new basin entry position not only as a tremendous asset to anchor its Permian focus, but a springboard for future growth and expansion in the basin.
The acquisition was by no means inexpensive. The hefty purchase price is augmented by substantial resource requirements to establish operations...
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