SRCI - PDC And SRC Merge: Great Deal Real Savings E&P Industry Needs More

Finally two E&P companies get it right. PDC (PDCE) and SRC (SRCI) are merging in a multi-billion dollar deal. The deal is expected to generate $50 million in annual G&A savings, and is expected to be accretive on a broad range of metrics. In response, the shares of both companies are up double digits. This is noteworthy, and hopefully other E&P (XOP) companies will take note and follow suit with similarly accretive mergers. Here is their share performance subsequent to announcement:

Data by YCharts

And here is their

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