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Diamondback Energy, Inc. → QEP Resources, Inc.- One-Page Deal Sheet

Announced Date
December 21,2020
Close Date
March 17,2021
Transaction Type
Corporate
Enterprise Value (EV)($MM)
2200




Snapshot
Asset/Basin:
["Permian Basin (Midland)", "Williston Basin"]
TargetZones:
["Middle Spraberry",
Net Acres
145,847
% Oil:
63 % oil

Proved Reserves
483.2 MMboe

Source Documents:
   Source Link
Location
Country
United States

State
Texas

Play
Bakken Shale & Three Forks,Midland Basin


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)








Price History


Date Deal Headline Price$/acre
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 - -
Apr-03-2023 Grayson Mill Adds More Bakken, Acquires Ovintiv's Assets For $825 Million - -

Other QEP Resources Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Nov-19-2018 - - Click here Louisiana  E&P
Jul-10-2018 - - Click here Utah  E&P
Jul-27-2017 - - Click here Texas  E&P
Jul-24-2017 - - Click here Wyoming  E&P
Jun-22-2016 - - Click here Texas  E&P

Other Diamondback Energy Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Feb-18-2025 - - Click here Texas  E&P
Jan-30-2025 - - Click here Texas  E&P
Feb-12-2024 - - Click here Texas  E&P
Nov-16-2022 - - Click here Texas  E&P
Oct-11-2022 - - Click here Texas  E&P