Diamondback Energy - M&A Summary and Business Overview

Oil/gas ExplorationCompany

Diamondback Energy M&A Summary

Diamondback Energy has acquired 9 companies, including 6 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 2 assets.

Diamondback Energy’s largest acquisition to date was in 2024, when it acquired Endeavor Energy Resources for $26.0B. It’s largest disclosed sale occurred in 2024, when it sold WTG Midstream Holdings to Energy Transfer for $3.3B. Diamondback Energy has acquired in 4 different US states. The Company’s most targeted sectors include oil/gas exploration (100%).

Diamondback Energy Business Overview

Where is Diamondback Energy headquartered?

Diamondback Energy is headquartered in Midland, Texas.

What is Diamondback Energy’s revenue?

Diamondback Energy disclosed revenue of 8,339M USD for 2023 and 9,566M USD for 2022.

How many employees does Diamondback Energy have?

Diamondback Energy has 1,023 employees.

What sector is Diamondback Energy in?

Diamondback Energy is an oil/gas exploration company.

When was Diamondback Energy founded?

Diamondback Energy was founded in 2007.

M&A Summary

  • M&A Total Activity11
    • M&A Buy Activity9
    • M&A Sell Activity2
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 9
  • M&A Advisors 8

Diamondback Energy

Diamondback Energy, Inc.

500 West Texas Avenue, Suite 1200,
Midland, Texas 79701
United States,
(432) 221-7400
www.diamondbackenergy.com

Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. Diamondback's activities are primarily focused on the horizontal exploitation of multiple intervals within the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations. Diamondback Energy was founded in 2007 and is based in Midland, Texas.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.2/yr) # 3 2 - 2 1 1 9
vol $10.1B $2.2B $850M $26.0B $39.2B
Sell (0.4/yr) # - - 1 - - 1 2
vol $745M $3.3B $4.0B
  11

Most Recent M&A

Company Date Value Type
WTG Midstream Holdings LLC 2024-05-28 3.3B USD Trade Sale
Midland, Texas · www.wtgmidstream.com
Endeavor Energy Resources, LP 2024-02-12 26.0B USD Merger
Midland, Texas · www.endeavorenergylp.com
Deep Blue Midland Basin LLC 2023-09-11 - Joint Venture
Houston, Texas · www.deepbluewater.com
Lario Oil & Gas - Northern Midland Basin 2022-11-16 850M USD Divestiture
Wichita, Kansas
FireBird Energy LLC 2022-10-11 - Add-on Acquisition
Fort Worth, Texas · www.firebirdenergy.com
Diamondback Energy - Williston Basin Assets 2021-10-21 745M USD Divestiture
Midland, Texas
QEP Resources, Inc. 2020-12-21 2.2B USD Add-on Acquisition
Denver, Colorado · www.qepres.com
Guidon Energy - Leasehold Interests & Related Assets 2020-12-21 - Divestiture
Irving, Texas
Ajax Resources LLC 2018-10-31 - Add-on Acquisition
Houston, Texas · www.ajaxres.com
Energen Corp. 2018-08-14 9.2B USD Add-on Acquisition
Birmingham, Alabama · www.energen.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Rattler Midstream LP    - Reliance Gathering LLC 2019-11-12 1
Midland, Texas · www.rattlermidstream.com Midland, Texas

M&A by Sector

Sector Buy # Value Sell # Value
Oil/Gas Exploration 9 (100%) 39.2B (100%) 1 (50%) 745M (19%)
Energy Services and Equipment - - 1 (50%) 3.3B (81%)
Total 9 $39.2B 2 $4.0B

By Geo

State/Country Buy Value Sell Value
United States 9 39.2B 2 4.0B
  Texas 6 26.9B 2 4.0B
  Kansas 1 850M - -
  Colorado 1 2.2B - -
  Alabama 1 9.2B - -
Total 9 $39.2B 2 $4.0B

Top M&A Advisors

Financial Deals
Jefferies
 2
Citi
 2
Moelis & Co.
 1
Legal Deals
Akin Gump Strauss Hauer & Feld
 2
Kirkland & Ellis
 2
Gibson, Dunn & Crutcher
 1

Deal Values

buy # Total
> $1B 3 $37.4B
$100M to $1B 2 $1.8B
TOTAL $39.2B
Largest Endeavor Energy Resources, LP
$26.0B (2024-02-12)
sell # Total
> $1B 1 $3.3B
$100M to $1B 1 $745M
TOTAL $4.0B
Largest WTG Midstream Holdings LLC
$3.3B (2024-05-28)

M&A Connections

Deals
Acquired from
Investor(s)
22%
2 (22%)
Strategic(s)
33%
3 (33%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Oil/Gas Exploration

Revenue

8,339   13% 2023
9,566   41% 2022
6,797   142% 2021
2,813   30% 2020
3,964   83% 2019
2,176   81% 2018
1,205   129% 2017
527   18% 2016
447   10% 2015
496   139% 2014
208   2013
(millions of USD) Show More Show Less

Employees

1,023

Established

2007

Public

NASDAQ: FANG

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