One-Page Deal Sheet
Diamondback Energy Acquires QEP Resources
Not Disclosed Not Disclosed
Announced Date
December 21,2020
Close Date
March 17,2021
Transaction Type
Corporate
Enterprise Value (EV)($MM)
2200
Asset/Basin:
["Permian Basin (Midland)", "Williston Basin"]
TargetZones:
["Middle Spraberry",
Net Acres
145,847
% Oil:
63 % oil
Proved Reserves
483.2 MMboe
Source Documents:
Location
Calculated Metrics( EV/Category)
Country
United States
State
Texas
Play
Production & Reserves Production
77,000 Boe/d
Production Mix
63 % Oil
Reserves
483.2 MMboe (1P)
Calculated Metrics( EV/Category)
$/ Flowing
28,571
$/ Acre
15,084
$/Location
1,833,333
Transaction Details:
Diamondback Energy has inked a deal to acquire QEP Resources in a cash and stock deal worth $2.2 billion, including $1.6 billion in debt.
This deal closed on March 17, 2021.
Stockholders of QEP will receive 0.05 shares of Diamondback common stock in exchange for each share of QEP common stock, representing an implied value to each QEP stockholder of $2.29 per share based on the closing price of Diamondback common stock on December 18, 2020.
Deal Highlights:
- Q3 2020 production of 76.7 Mboe/d (48.3 Mbo/d)
- 48 DUCs
- Williston Basin assets will be harvested for cash or divested
- Land/Leasehold: 145847 (49,064 in the Permian)
- Reserves: 382.3 MMBOE
- Locations: 1200 (1000 in Permian & 200 in Williston)
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Nov-03-2025 | Viper Energy Divests Non-Permian Mineral & Royalty Portfolio to Warwick Capital and GRP Energy for $617MM | -  |
- |
| Jul-08-2024 | Devon To Acquired PE-Backed Grayson Mill For $5 Billion | - |
- |
| Feb-21-2024 | Chord Energy and Enerplus to Combine in $11 Billion Transaction Creating Premier Williston-Focused E&P Company | - |
- |