Diamondback to buy additional Midland Basin acreage for $114M

|About: Diamondback Energy (FANG)|By:, SA News Editor

Diamondback Energy (FANG) agrees to buy an additional interest in the Midland Basin for $114M, two days after announcing a $174M purchase in the same area.

With the agreements, FANG says it has deals to acquire 4,693 net acres, or a ~72.6% working interest, of such interests in Martin County, Texas.

To finance some of the purchases, FANG says it is launching a public offering of 3M common shares.