FANG to buy Midland Basin acreage

摘要

Diamondback Energy Inc. (Nasdaq: FANG) has agreed to buy 11,150 net acres in the Midland Basin for $165 million. The leasehold is located in northern Martin County and southern Dawson County. The properties produced 800 BOE/d—81% oil—at the end of second-quarter 2013. The proposed transaction, expected to close by the end of September, will increase the company's leasehold interest in the basin to more than 65,000 net acres.