M&A
confidence high
sentiment positive
materiality 0.75
Diamondback Energy to acquire Double Eagle assets for $3B cash + 6.9M shares
Diamondback Energy, Inc.
- Consideration: $3B cash and ~6.9M common shares valued at ~5.2x 2025 EBITDA.
- Acquisition includes ~40,000 net acres in core Midland Basin; run-rate ~27 MBo/d (69% oil).
- Commitment to sell at least $1.5B of non-core assets; pro forma net debt target of $10B.
- Expected close on April 1, 2025, subject to customary conditions and regulatory approval.