Diamondback is launching a share sale to pay for the assets and for an expanded drilling campaign.
The acquisition represents Diamondback’s entry in to the red-hot Delaware sub-basin, after building a premier portfolio of assets to the north in the Midland sub-basin of the Permian.
“The acreage sits within the most coveted area of the Southern Delaware Basin and has significant multi-zone and long-lateral potential,” chief executive Travis Stice said.
