Permian competitors come to an agreement to form a $50 billion oil and gas powerhouse.

Title: Diamondback Energy and Autry Stephens’s Endeavor Announce Merger in the Oil Patch

Introduction:
The oil and gas industry has been experiencing a wave of mergers and acquisitions in recent years, and the trend shows no signs of slowing down. In the latest development, Diamondback Energy and Autry Stephens’s Endeavor have announced a merger, adding to the torrid dealmaking in the oil patch.

Section 1: The Merger
Diamondback Energy, a Texas-based oil and gas company, and Endeavor, a privately held exploration and production company, have entered into a definitive merger agreement. The deal is valued at approximately $2.2 billion, with Diamondback acquiring all of Endeavor’s outstanding shares.

Section 2: The Benefits
The merger is expected to create a leading independent oil and gas company with a strong presence in the Permian Basin, one of the most prolific oil-producing regions in the United States. The combined company will have a total acreage of over 390,000 net acres and an  

Share This Article
Leave a comment