It is both. There are receiving wells and 3M in debt (asset and liability sides of balance sheet) and paying cash and stock+warrants+etc/equity.
They are definitely paying for the wells. There is no free lunch here. They have purchased something and paid a price for it. In a free market, this would be an NPV zero transaction.
Hopefully this transaction will show up in their annual report which should disclose how they funded the purchase price.
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