Diamondback nears $5 billion deal to buy drilling portfolio from Double Eagle, FT says
In short
Diamondback is approaching an agreement to secure a substantial drilling portfolio from Double Eagle. The prospective deal is valued at approximately $5 billion according to reporting from the Financial Times. Final terms are currently being worked out as the companies push to conclude the negotiations.
Key points
- The pending multi-billion dollar transaction marks a substantial expansion for Diamondbac…: The pending multi-billion dollar transaction marks a substantial expansion for Diamondback's asset portfolio.
- Securing the Double Eagle portfolio would represent one of the major acquisition deals in…: Securing the Double Eagle portfolio would represent one of the major acquisition deals in the sector.
- Negotiations remain active as the parties work toward completing the final terms of the a…: Negotiations remain active as the parties work toward completing the final terms of the agreement.