Seeking Alpha

Diamondback Energy to buy additional Permian Basin acreage for $174M

  • Diamondback Energy (FANG) agrees to acquire more prospective tight oil acreage in the Permian Basin from unnamed third parties for ~$174M.
  • The deal includes 2,825 net acres with a 43.8% working interest (75% net revenue interest) and net production of ~1,600 boe/day (75% oil) from 63 net producing vertical wells.
Comments (1)
  • 2puttwo
    , contributor
    Comments (390) | Send Message
     
    This is a very good company. I own a little bit of it and it keeps going up. Best holding in my portfolio in 2013. Wish I had more.
    19 Feb, 11:47 PM Reply Like
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