FANG - Diamondback Energy: Round 2 Makes An Acquisition

2024-06-05 02:05:08 ET

Summary

• Diamondback Energy forms joint venture with Five Point Energy for water management business.
• The company monetizes the water handling part of its midstream business through the joint venture.
• Diamondback Energy sells WTG Midstream Holdings to Energy Transfer to further monetize some midstream assets.
• The activity since the last article should increase the value of the shares if management knows what it is doing.
• Deep Blue Midland Basin, the joint venture, acquired Lagoon Operating to expand the water services business.

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