Diamondback branches out in the Permian

摘要

Diamondback energy, a Permian Basin-focused E&P, is not lacking investor support. Investors positively disposed to growing production and inventory of landholdings showed up in strength to support a US$490m acquisition-related equity raise, with one ECM source labelling participation as "gold-plated". "Because acquisitions are material it can be tricky timing a capital raise vis-a-vis market conditions," one banker that worked on the transaction told IFR. "Diamondback is pivoting a little bit from defensive to offensive. Investors are giving them the benefit of the doubt on execution."