Reported 4 days ago
Diamondback Energy Inc. is on the verge of acquiring West Texas oil producer Double Eagle as part of its strategy to strengthen its position in the Permian Basin. The deal, expected to be announced soon, might exceed $5 billion. This move follows Diamondback's earlier acquisition of Endeavor Energy Resources, and while the shale deal-making has slowed down recently, Double Eagle remains one of the last large independent producers in the region.
Source: YAHOO