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Ring expands CBP core area in $15MM buy from Tessara
Private equity firm The Carlyle Group divested Central Basin Platform assets owned by its portfolio company Tessara Petroleum Resources to Ring Energy in a $15.2 million all-stock deal. The transaction, which closed Dec. 26, gives Carlyle a ~4% stake in Ring, which has other PE groups RBC Global Asset Management, BlackRock and Cannell Capital among its investors. The effective date of the transaction was Nov. 1.The assets are comprised of 4,763 net acres in......
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