$312.5 million deal adds to $10.8 billion year
Diamondback (ticker: FANG) reported third quarter results today, showing net earnings of $157 million, or $1.59 per share.

Diamondback produced 123 MBOEPD in Q3, up 9% sequentially and 45% year-over-year. This result, which exceeded expectations, has led Diamondback to slightly increase its overall 2018 production guidance, the company now forecasts 50% yearly production growth.
Permian bolt-on spree
Diamondback continued its buying spree in the Permian, acquiring bolt-on positions from ExL Petroleum and EnergyQuest II. In total, Diamondback paid $312.5 million for 3,646 net acres. This acreage is directly adjacent to the acreage Diamondback purchased from Ajax earlier in the year. These ...


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