Reported 2 days ago
Diamondback Energy announced a $4.08 billion cash-and-stock deal to acquire certain units of Double Eagle, aiming to strengthen its presence in the U.S. Permian Basin. This acquisition will provide access to about 40,000 acres in the Midland Basin and marks Diamondback's continued growth strategy after last year's $26 billion purchase of Endeavor Energy Partners. Despite anticipated slowdowns in oil output growth, Diamondback plans to maintain its financial leverage while enhancing its asset portfolio.
Source: YAHOO