XCL Resources Holdings, LLC, has its sights set on acquiring Altamont Energy, LLC, and has submitted an application seeking approval from the Federal Trade Commission. Pipeline & Gas Journal reports that the petition is tied to the terms of a 2022 settlement in which XCL is required to obtain prior approval before acquiring additional producers of waxy crude oil with an output of more than 2,000 barrels per day in the Utah Counties of Duchesne, Uintah, Utah, Grand, Emery, Carbon, and Wasatch. XCL is based in Houston, Texas, and already owns and operates wells in Duchesne and Uintah County. The public will be given 30 days to submit comments regarding the proposed acquisition of Altamont Energy at Regulations.gov after the application is published in the Federal Register.
