Private Equity | Deals - Acquisition, Mergers, Divestitures | Capital Markets
Diamondback Wraps Up Acquisition of Midland-Focused Guidon
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Diamondback Energy, Inc. has completed its previously announced acquisition of leasehold interests and related oil and gas assets from Guidon Operating LLC, a portfolio company of Blackstone Energy Partners.
Aggregate consideration consisted of $375 million in cash and 10.68 million shares of the Company's common stock after accounting for post-effective date adjustments.
As a result of the acquisition, Diamondback adds approximately 32,500 net acres in the Northern Midland Basin, primarily held by production allowing for capital efficient full field development.
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