DIAMONDBACK ENERGY INC. plans to pay more than $3 billion on two corporate deals—the larger an all-stock acquisition of QEP Resources Inc.—as it joins a consolidating trend among E&Ps in the Permian Basin. The pending QEP acquisition, together with the simultaneously announced acquisition of assets from Irving, Texas-based Guidon Operating LLC, will bring Diamondback's total leasehold interests to over 276,000 net surface acres in the Midland Basin and more than 429,000 including its Delaware Basin position.
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