Diamonback Energy and Endeavor Energy Resources announce a merger.

Diamonback Energy and Endeavor Energy Resources have announced a $26 billion merger to create one of the largest oil producers in the Permian Basin. The deal, subject to regulatory approvals, will combine the two companies and create a $50 billion oil and gas giant. The combined entity will become the third-largest oil and gas producer in the region, following acquisitions by Exxon and Chevron. The transaction, which will create a leading independent operator in the Permian Basin in the US, is expected to close in the fourth quarter of 2024, subject to satisfaction of customary closing conditions.

February 11, 2024
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