From Reuters Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing to buy up acreage, acquire competitors and quickly boost output in the booming shale field. Today, Diamondback (FANG.O) is the
From Bloomberg Dominion sold stake in Appalachian gas pipeline last year, potential IPO would follow listing by Diamondback’s Rattler Blue Racer Midstream, a private equity-backed natural gas pipeline owner, is considering an initial public offering that could be valued at $2.5 billion, according to people familiar with the matter. The Dallas-based company, which is a 50/50 joint venture between private
By Tyler Losier, Energy Reporter, Oil & Gas 360 Rattler Midstream raises $665 in gross proceeds Diamondback Energy, Inc. (stock ticker: FANG) subsidiary Rattler Midstream LP (stock ticker: RTLR) priced its upsized initial public offering this Wednesday, offering up 38,000,000 shares to the public at a price of $17.50 per common unit. This represents a 4,666,667 unit increase from
Diamondback Energy, Inc. Announces New Leadership Appointments and Promotions
Diamondback Energy, Inc. (ticker: FANG) pulled in a net income of $115 million in the fourth quarter of 2017, or $1.16 per diluted share. Diamondback spent $246 million on drilling, completions, non-operated properties and $61 million on infrastructure in the fourth quarter of 2017. For the full year 2017, Diamondback spent $737 million on drilling, completions, non-operated properties and $124
Diamondback Energy acquires Brigham Resources for $2.4 billion Diamondback Energy (ticker: FANG) announced late Wednesday that the company has entered into a definitive purchase agreement to acquire all leasehold interests and related assets of Brigham Resources Operating, LLC and Brigham Resources Midstream, LLC for an aggregate purchase price of $2.4 billion. The deal consists of $1.6 billion in cash and 7.7 million shares of Diamondback
Diamondback adds 19,180 net Delaware acres to its primarily Midland Basin assets Diamondback Energy (ticker: FANG) announced today that the company purchased 38,765 gross (19,180 net) acres in the Southern Delaware Basin for $560 million. The acquisition will provide Diamondback with primarily operated leasehold interests, the majority of which are located along the Pecos River in reeves and Ward counties,
Permian Operator Will Use Equity Proceeds to Pay Debt While the oil and gas industry is battening down the hatches, issuing bailing buckets to all hands and looking for a solid toehold as forty-six dollar crude oil sloshes under and around it, North American shale player Diamondback Energy (ticker: FANG) is a point of light. The company zoomed to the market yesterday
