Centennial Resource and Colgate Energy to combine in $7 bln deal

The combined company has current production of about 135,000 barrels of oil equivalent per day (boepd), the companies said.

The merger values Colgate at about $3.9 billion and consists of 269.3 million shares of Centennial stock, $525 million of cash and the assumption of about $1.4 billion of Colgate’s outstanding net debt.