Announced
Completed
Financials
Tags
Completed
oil and gas company
Private Equity
United States
Domestic
Majority
Friendly
Acquisition
Private
Single Bidder
Integrated Oil and Gas
Synopsis
Diamondback Energy, an independent oil and natural gas company, completed its acquisition of Guidon Operating, an oil and gas company, from Blackstone, a private equity firm, for $883m. “The acquisition of these assets from Guidon checks every box of Diamondback’s corporate development strategy. This deal is accretive on all relevant 2021 financial metrics, accelerates our de-leveraging and adds high quality top quartile inventory to our Midland Basin portfolio. As a result of this deal, Diamondback is expected to reduce capital spend on our existing assets and re-allocate a portion of that capital to high return projects on the Guidon acreage. Diamondback will not only get bigger through this transaction, but most importantly better,” Travis Stice, Diamondback CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.