US EditionDiamondback Energy close to buying Endeavor in $25bn US oil deal
- Diamondback and Endeavor have reached a deal to merge, creating a major player in the Permian Basin oil and gas field. The merger will result in a newly formed company with Diamondback shareholders owning about 60.5% and Endeavor shareholders owning 39.5%.
- The merger will make the combined company the third largest producer in the Permian Basin, with the potential to produce 816,000 oil-equivalent barrels per day.
- This merger is seen as a significant milestone for Endeavor Energy, which has been in operation for almost 45 years.
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The massive energy price increase after Russia's attack on Ukraine has created a boom for oil producers. Now, the companies are sitting on billions of dollars. With the money, the industry is financing huge acquisitions and mergers - and clearly indicating that they will continue to bet on the raw material.
US energy company Diamondback Energy will acquire Endeavor Energy Resources, the largest private producer of oil and gas in the Permian Basin in the United States, for $26 billion (about CZK 609 billion). Diamondback said in a press release on Monday that the purchase price also included a takeover of Endeavor's debt.
Diamondback Energy to buy Endeavor in $26 billion deal to create a Permian drilling giant
Diamondback Energy will buy rival Endeavor Energy Resources in a cash-and-stock deal valued at about $26 billion to create a drilling giant in the Southwest United States. The transaction includes approximately 117.3 million shares of Diamondback common stock and $8 billion in cash. Existing Diamondback shareholders are expected to own about 60.5% of the combined company, while Endeavor’s equity holders are anticipated to own approximately 39.5%.
Diamondback Energy to buy Endeavor in $26 billion deal to create a Permian drilling giant
Diamondback Energy will buy rival Endeavor Energy Resources in a cash-and-stock deal valued at about $26 billion to create a drilling giant in the Southwest United States. The transaction includes approximately 117.
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