Diamondback Energy announces $1.6 billion acquisition of Permian producer

Move to take over acreage of FireBird Energy deemed ‘a classic bolt-on acquisition’

Big bolt-on: the 68,000 net acres being acquired by Diamondback are on the western side of the Permian’s Midland basin. — Big bolt-on: the 68,000 net acres being acquired by Diamondback are on the western side of the Permian’s Midland basin.Photo: REUTERS/SCANPIX

Mark Passwaters

Houston

Diamondback Energy Permian Basin Midland basin Americas North America

Published 12 October 2022, 18:10Updated 19 October 2022, 05:38