FANG - Diamondback Acquires Endeavor In $26 Billion Permian Oil Deal With Read-Through For Vital Energy

2024-02-20 06:46:24 ET

Summary

• Diamondback Energy acquires Endeavor Energy, adding 357,000 BOEPD and 344,000 net acres to its Permian Basin assets.
• The acquisition is financed with $18 billion in common stock issuance and $8 billion in cash.
• The deal is the second most expensive Permian acquisition since 2023, indicating a trend of highly valued deals in the region.

On Monday, February 12th, Diamondback Energy (FANG) announced its acquisition of Endeavor Energy to add to its Permian Basin assets. This transaction adds about 357,000 BOEPD and 344,000 net acres to FANG’s asset base. Diamondback is financing this acquisition with $18 billion in common stock issuance and $8 billion of cash, funded from cash on hand and debt issuance....

For further details see: