Noble Energy Inc. agreed to acquire Rosetta Resources Inc. for $2.1 billion in stock, giving the natural gas and oil producer a position in two of the largest areas of shale production in Texas.

Noble will also assume Rosetta’s net debt of $1.8 billion, the companies said in a statement on Monday. The per-share offer is valued at $26.62, a 38 percent premium to the target’s closing price on Friday. The Eagle Ford basin was the most productive U.S. oil field at the end of 2013, according to the latest Energy Department data.

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