Diamondback Flexes Equity Muscles in $3.3 Billion Bolt-on Deals

摘要

Some key stats from Diamondback Energy Inc.'s two Midland Basin bolt-on deals: 83,000 net acres, 448 new net drilling locations and about two years. Roughly 24 months is the incremental inventory life that $3.3 billion in cash and stock buys in the Permian Basin. Diamondback on Nov. 16 announced it would buy Lario Permian LLC on Nov. 16 in a cash-and-stock transaction valued at $1.55 billion. It follows an October deal to buy FireBird Energy LLC for $1.75 billion that closed on Nov. 30.