Diamondback

Viper Energy Partners LP has entered a deal to substantially expand its Lower 48 mineral and royalty interest footprint through an acquisition from two private equity firms. The Diamondback Energy Inc. subsidiary agreed to acquire about 7,300 net royalty acres from Warwick Capital Partners and GRP Energy Capital for roughly 9.02 million Viper common units…

Diamondback Energy Inc. is expecting oilfield services (OFS) costs to ease amid a current slowdown of activity in the Lower 48, according to CEO Travis Stice. Stice hosted a conference call to discuss second quarter earnings for the Midland, TX-based Permian Basin pure-play. Diamondback’s OFS providers “have always been responsive” to declines in the Permian…

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

Diamondback Energy Inc. has entered a deal to acquire all leasehold interest and related assets of privately held FireBird Energy LLC for $775 million in cash and 5.86 million Diamondback shares. The West Texas asset package spans about 75,000 gross (68,000 net) acres in the Permian Basin’s Midland sub-basin. “This bolt-on acquisition adds significant, high-quality…

Drilling efficiencies are giving Diamondback Energy Inc. a leg up to reduce spending, drop rigs and crews, but oil output is set to bump higher through the end of the year, according to CEO Travis D. Stice. During the recent second quarter conference call, Stice said the Midland, TX-based independent had decreased drill times from…

Diamondback Energy Inc. CEO Travis Stice said until there’s a “clear signal” to increase oil output, there are no plans to expand volumes this year in the Permian Basin. Stice and his management team discussed first quarter performance and the outlook for the oil and gas market during a conference call. The CEO pointed to…

Diamondback Energy Inc. is expanding its leasehold in the Permian Basin with two separate cash and stock deals valued at a combined roughly $3 billion that are seen boosting cash flow and shareholder returns. The Midland, TX-based independent agreed to acquire QEP Resources in an all-stock transaction valued at around $2.2 billion, including QEP’s net…

Permian Basin pure-play Diamondback Energy Inc. improved its environmental stewardship in the third quarter, with only 0.5% net natural gas production flared, down 74% year/year. The operations also are strong enough to not look for any merger partner, CEO Travis Stice said. The Midland, TX-based independent reduced its lease operating expenses and general/administrative costs in…