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Deal Highlights:
Diamondback Energy Acquires QEP Resources
Announced Date
December 21,2020
Deal Value $
2,200,000,000
Net Acres
145,857
Location Count
1,200
Transaction Type
Corporate
Buyer
Seller
Price Per BOE $
40,000
Source Documents:
Location
Multiples
Country
United States
State
Texas
Play
Production & Reserves Production
77,000 Boe/d
Production Mix
63 % Oil
Reserves
483.2 MMboe (1P)
Multiples
Production ($/boe/d)
28,571
$Price/Net Acre
15,083
$1P
Boe
5
$/Location
-733,333
Adj. $/acre is based on production
@40,000 Boe/d
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 |
---|---|---|---|
Apr-03-2023 | Grayson Mill Adds More Bakken, Acquires Ovintiv's Assets For $825 Million | - | - |
Sep-06-2022 | Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion | - | - |
Jun-08-2022 | Devon Acquires Williston Assets from PE-Backed E&P in $865 Million Cash Deal | - | - |
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
---|---|---|---|---|---|
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 |
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
---|---|---|---|---|---|
Feb-12-2024 | - | - | Click here | Texas | E&P |
Nov-16-2022 | - | - | Click here | Texas | E&P |
Oct-11-2022 | - | - | Click here | Texas | E&P |
May-04-2021 | - | - | Click here | Texas | E&P |
May-03-2021 | - | - | Click here | North Dakota | E&P |