Diamondback Energy to acquire Midland basin assets from TRP Energy for $238m.

Diamondback Energy, a Texas based independent oil and natural gas company, agreed to acquire Midland basin assets from TRP Energy, an energy infrastructure company, in exchange for $238m in cash and 33k net acres in the Delaware basin. TRP’s Midland Basin assets are made up of ~15k net acres across Upton and Reagan counties and consist of 55 remaining undeveloped operated locations, the majority of which immediately compete for capital.