Page 17 - Travis Stice News Today : Breaking News, Live Updates & Top Stories | Vimarsana

SHARE Diamondback Energy rounded off a tumultuous year for the US shale industry with the acquisition of two rivals for about $1.4 billion that will expand the company’s position in the Permian Basin. Diamondback agreed to buy shale explorer QEP Resources in an all-stock deal that values the target at $2.29 per share, or about $555 million, the buyer said on Monday in a statement. Separately, Diamondback announced the purchase of closely-held Guidon Operating. That cash-and-stock transaction values Guidon, which was co-founded in 2016 by funds managed by Blackstone Group, at about $862m. �...

Share: MIDLAND, Texas, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback" or the "Company") today announced it has entered into a definitive purchase agreement to acquire all leasehold interests and related assets of Guidon Operating LLC ( "Guidon" or the "Seller") in exchange for 10.63 million shares of Diamondback common stock and $375 million of cash. The cash portion of this transaction is expected to be funded through a combination of cash on hand and borrowings under the Company's credit facility. ACQUISITION HIGHLIGHTS: Approximately 32,500 net ac...

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...

Diamondback to buy QEP Resources in $2.2 billion all-stock deal 12/21/2020 Diamondback Energy CEO Travis Stice MIDLAND, TX - Diamondback Energy and QEP Resources announced that they have entered into a definitive agreement under which Diamondback will acquire QEP in an all-stock transaction valued at approximately $2.2 billion, including QEP’s net debt of $1.6 billion as of September 30, 2020. The consideration will consist of 0.05 shares of Diamondback common stock for each share of QEP common stock, representing an implied value to each QEP stockholder o...