Diamondback agrees to acquire two rivals; deals total $1.4 billion
Diamondback agrees to acquire two rivals; deals total $1.4 billion Simon Casey, Bloomberg FacebookTwitterEmail Travis Stice, Diamondback Energy CEOCourtesy Photo Diamondback Energy Inc. rounded off a tumultuous year for the U.S. shale industry with the acquisition of two rival producers for about $1.4 billion that will expand the company’s position in the Permian Basin. Diamondback said Monday in a statement it agreed to buy shale oil and natural gas producer QEP Resources Inc. The all-stock deal values QEP at $2.29 per share, or about $555 million. In a separate statement, Diamondback sa...
Source: mrt.com