Diamondback Energy (FANG) to Acquire Delaware Basin Assets for $2.43B
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Diamondback Energy, Inc. Announces Transformational Acquisition in the Delaware Basin and Increases 2017 Production Outlook
December 14, 2016 4:08 PM ESTMIDLAND, Texas, Dec. 14, 2016 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (Diamondback or the Company) today announced that it has entered into a definitive purchase agreement to acquire all leasehold interests and related assets of Brigham Resources Operating, LLC and Brigham Resources Midstream, LLC (the Sellers or Brigham Resources), for an aggregate purchase price of $2.43 billion, consisting of $1.62 billion in cash and 7.69 million shares of Diamondback common stock, subject to certain adjustments. Upon completion, the pending acquisition will provide Diamondback with primarily operated leasehold interests on 76,319 net acres located in Pecos and Reeves counties,... More
