"Diamondback Energy and Endeavor Energy Set to Merge, Creating $50 Billion Giant"
TL;DR
U.S. shale oil companies Diamondback Energy and Endeavor Energy Resources are close to finalizing a $25 billion cash-and-stock deal that would create an oil and gas company valued at over $50 billion, making it the third largest producer in the Permian Basin. The deal is expected to be announced soon and would give Diamondback's shareholders more than half of the combined companies. The consolidation reflects a trend in the industry as major players seek to secure future drilling inventory and output from the largest U.S. oilfield.
Topics:businessbusiness-energy#acquisition#business-energy#diamondback-energy#endeavor-energy-resources#oil-and-gas#permian-basin
- Diamondback Energy, Endeavor Energy in talks to create $50 billion company, sources say Reuters
- Permian Rivals Near Deal to Create $50 Billion Oil-and-Gas Behemoth - WSJ The Wall Street Journal
- Diamondback Energy, Endeavor Energy finalizing a merger to create $50 billion company Yahoo Finance
- Diamondbank Energy Nears Merger With Permian Rival Endeavor Investor's Business Daily
- Diamondback, Endeavor in Talks to Form $50 Billion Energy Giant Bloomberg
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