Diamondback to buy $440MM of Permian interests

摘要

Diamondback Energy Inc. (Nasdaq: FANG), Midland, has agreed with an unrelated third-party seller to purchase mineral interests in Midland County, Texas, for $440 million. The acquisition includes mineral interests under 15,000 gross (12,500 net) acres. More than half of these minerals are operated by Diamondback. The company intends to finance the acquisition with debt and cash on hand. Wexford Capital LP advised Diamondback during negotiations for the deal.