Diamondback Completes Acquisition of Double Eagle

Deal News | Apr 01, 2025 | Globenewswire

Diamondback Energy, a prominent independent oil and natural gas company headquartered in Midland, Texas, has announced the closure of its acquisition of certain subsidiaries of Double Eagle IV Midco, LLC. This move aligns with Diamondback's ongoing strategy of acquiring, developing, and exploiting unconventional, onshore oil and gas reserves, particularly in the Permian Basin. The completion of this acquisition signifies Diamondback's commitment to expanding its portfolio and is projected to bring strategic benefits. However, Diamondback cautions that forward-looking statements involved in the announcement come with inherent risks and uncertainties regarding the future performance and financial outcomes. Factors such as global political tensions, oil demand fluctuations, and regulatory changes could significantly impact Diamondback's anticipated business objectives and financial results.

Sectors

Oil and Gas Exploration and Production
Energy

Geography

United States – The primary location of both Diamondback Energy and the acquired subsidiaries, with operations focused in the Permian Basin, West Texas.

Industry

Oil and Gas Exploration and Production – This sector is pertinent due to Diamondback's focus on acquiring, exploring, and exploiting oil and natural gas reserves, specifically within the Permian Basin.
Energy – Broader classification relevant to the production and management of energy resources, aligning with Diamondback's strategic objectives in oil and natural gas.

Financials

– The transaction amount of the acquisition has not been disclosed in the article.

Participants

Name	Role	Type	Description
Diamondback Energy, Inc.	Acquiring Company	Company	An independent oil and natural gas exploration and production company based in Midland, Texas.
Double Eagle IV Midco, LLC	Target Company	Company	A company whose certain subsidiaries have been acquired by Diamondback Energy.