Form 8-K · Current Report · Filed 2024-09-10
Diamondback Energy Completes Acquisition of Endeavor Energy
Diamondback Energy, Inc. has completed its acquisition of Endeavor Energy Resources, L.P. for approximately $7.1 billion in cash and 117.3 million shares of Diamondback common stock, effective September 10, 2024. This transaction significantly expands Diamondback's presence in the Permian Basin and brings on board three new directors. The merger was subject to regulatory approvals and was subject to a class action lawsuit that has been settled for $495,000.
- Filer
- Diamondback Energy Inc. FANG · NASDAQ
- Filed
- Accession
- 0001140361-24-040726
- CIK
- 0001539838
- Signal
- High impactEnergy
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Completion of Acquisition or Disposition of Assets
Unregistered Sales of Equity Securities
Material Modification to Rights of Security Holders
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Amendments to Articles of Incorporation or Bylaws
Regulation FD Disclosure
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$179.21
Next session
-6.0%
Since filing
+13.2%
Latest close
$202.95
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from FANG reporting the same item, with the next session's move:
Exhibits (3)
About Diamondback Energy Inc.
Diamondback Energy Inc. is a publicly traded company that engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas. Its primary function is to extract hydrocarbon resources, which includes both crude oil and natural gas, through advanced drilling and recovery techniques. Diamondback Energy leverages its extensive portfolio of assets across the prolific Permian Basin, which is renowned for its rich oil and gas deposits and low-cost production benefits. The company plays a significant role in the energy sector by providing essential natural resources that fuel modern economies. Its strategic focus on high-margin assets and efficient operational practices make it a notable player in the United States energy market. Diamondback's operations impact sectors involved in energy supply, industrial production, and transportation. Headquartered in Midland, Texas, Diamondback Energy is committed to sustainable growth and maximizing shareholder value, ensuring its ongoing contribution to the energy landscape and the broader commodities market.
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