Centennial, Colgate to merge, creating biggest pure-play Delaware Basin operator

Centennial Resource Development and Colgate Energy Partners agreed to combine in a $3.9 billion cash and stock deal, creating the largest pure-play exploration and production Delaware Basin operator in West Texas/Southeast New Mexico with high-quality, scaled complementary assets, the companies said May 19. The surviving entity, valued at a total $7 billion, will get a new name and ticker symbol…