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One-Page Deal Sheet

Diamondback Bolts-On AJAX Resources for $1.2 Billion Cash/Stock

Diamondback Energy, Inc. Ajax Resources LLC
AnnouncedAug 8, 2018
TypeProperty
LocationMidland Basin
Announced Date
August 08,2018
Effective Date
July 01,2018
Close Date
October 31,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
1245




Snapshot
Asset/Basin:
{"Permian - Midland Basin"}
TargetZones:
{"Middle Spraberry",
Net Acres
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% Oil:
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Net Operated Locations:
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Location
Region
Permian - Midland Basin

Country
United States

State
Texas

County
Andrews ,Martin ,Dawson

Play
Midland Basin


Production
Production
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Production Mix
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Calculated Metrics( EV/Category)
$/ Flowing
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$/ Acre
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$/Location
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Transaction Details:  Require Private Equity Subscription

Purchase price (as of 8/8/2018) $1.2 billion ($900 million plus 2.5 million stock priced at $133.14 million.

Ajax Deal Highlights 25,493 net leasehold acres in the Northern Midland Basin, including ~21,000 net acres in Northwest Martin and Northeast Andrews counties; ~89% held by production (“HBP”) Producing over net 12,100 boe/d (88% oil) as of August 6, 2018 362 net identified potential horizontal drilling locations with an average lateral length of over 9,500 feet; ~220 net potential locations in the top quartile of Diamondback’s current inventory ~99% of acreage operated, with average…

Source : Require Private Equity Subscription

Permian - Midland Basin Deal Activity In Last 12 Months


Other Permian - Midland Basin Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Sep-02-2025 - - Click here Texas  E&P
Feb-26-2025 - - Click here Texas  E&P
Feb-18-2025 - - Click here Texas  E&P
Feb-12-2024 - - Click here Texas  E&P
Dec-11-2023 - - Click here Texas  E&P

Price History


Date Deal Headline Price$/acre
Feb-12-2024 Diamondback To Acquire Endeavor Energy In $26 Billion Transaction - -
Jan-04-2024 APA Corp to Acquire Permian Pure Player- Callon In All Stock Deal - -
Dec-15-2023 Fury Resources Takes Battalion Private In Transaction Worth $450 Million : Map - -