Diamondback sinks fangs into Delaware Basin

摘要

Houston-Small-cap operator Diamondback Energy sank its fangs into the Delaware Basin this week, announcing a prospective $560 million acquisition from an unnamed group that moves the company into the West Texas play at a premium price analysts say highlights the basin’s desirability. Midland, Texas-based Diamondback’s entry into the southern Delaware, in West Texas’ key Reeves and Ward counties at the western end of the greater Permian basin, could propel its production to 100,000 b/d of oil equivalent in the years ahead, nearly triple current output, the company said in a statement.