American renowned Oil and natural gas exploration and production company Noble Energy limited has announced acquisition of its minor rival Rossetta Resources Incl  in a deal valued at $ 2.1 billion.

In the concessions, Noble Energy will take over Rossetta’s stock including its net debts valued at approximately $1.8 million as of Mach 2015.

The deal has been defined as the first Sizable merger since the fall of oil prices on the global market.

The deal came after a series of flopped negotiations between the two parties on the value of gas field in the hands of the seller following the sudden fall of global oil prices in recent months,  from more than $100 a barrel last June to less than $45 a barrel in March.

According to the Wall Street Journal, the volatility of oil prices paralyzed mergers and acquisitions in much of the energy sector. But Noble’s bid for Rosetta, an active driller in Texas, coupled with U.S. oil prices rebounding to around $60 a barrel, shows that disconnect may be disappearing.

The merger agreement further stipulates that Rosetta’s shareholders will receive 0.542 of a Noble share for each Rosetta share they hold. They will own roughly 9.6% of Noble shares following deal’s close, expected sometime this fall.

Both companies’ board members have reached  conclusive approval of the transaction and Rosetta’s board has since called on its shareholders approve the transaction ahead of final transaction in the third quarter of 2015.