Double Eagle IV Midco, LLC Enters Into Definitive Purchase Agreement With Diamondback Energy, Inc.
19 2월 2025 - 5:31AM
Business Wire
-- Diamondback Energy Acquires Certain
Midland Basin Entities from Double Eagle --
Double Eagle IV Midco, LLC (“Double Eagle”) today announced that
it has entered into a definitive purchase agreement to divest its
equity interest in certain subsidiaries to Diamondback Energy, Inc.
(NASDAQ: FANG) (“Diamondback”) in exchange for $3 billion of cash
and approximately 6.9 million shares of Diamondback common
stock.
Cody Campbell and John Sellers, Co-Chief Executive Officers of
Double Eagle, commented “We are excited to announce our agreement
with Diamondback. We believe our team has built a truly standout
asset that further increases Diamondback’s high-quality inventory.
It was important to us that we maintain the stewardship of this
asset going forward not only with a world-class Midland operator
but also a group that shares our core values and understands the
importance of community impact in West Texas.”
Kyle Kafka, Partner of EnCap, added “We congratulate John, Cody
and the entire Double Eagle team on another exceptional outcome and
look forward to continuing our partnership. This high-quality asset
base is a natural fit with Diamondback, the leading public operator
in the Midland Basin, and we are excited to be a significant
shareholder going forward.”
Timing and Approvals
Transaction is expected to close on April 1, 2025, subject to
the satisfaction of customary closing conditions.
Advisors
RBC Capital Markets, Goldman Sachs & Co. LLC, and J.P.
Morgan Securities LLC are acting as financial advisors to Double
Eagle. Vinson & Elkins LLP is serving as legal advisor.
TPH&Co, the energy business of Perella Weinberg Partners, is
serving as financial advisor to Diamondback. Kirkland & Ellis
is acting as legal advisor to Diamondback.
About Double Eagle
Double Eagle IV Midco, LLC is an independent oil and natural gas
company focused on development and production throughout the
Permian Basin. Headquartered in Fort Worth, Texas, Double Eagle IV
was formed in 2022 by the same management team that successfully
led its predecessor companies. The Company was formed with equity
capital commitments from EnCap Investments L.P., Apollo Natural
Resources, Elda River Capital, Double Eagle Management, and other
strategic institutional investors.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been a leading provider of
growth capital to the independent sector of the U.S. energy
industry. The firm has raised 25 institutional funds totalling
approximately $47 billion and currently manages capital on behalf
of more than 350 U.S. and international investors. For more
information, please visit www.encapinvestments.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20250218127318/en/
For Double Eagle: Jordan Huelse Vice President – Finance
817-928-3260 Jhuelse@depermian.com
For EnCap: Meredith Hargrove Howard Redbird
Communications Group 210-737-4478 Meredith@redbirdpr.com
For other investor inquiries regarding EnCap: Charles W.
Bauer Partner – Investor Relations 713-659-6100
cbauer@encapinvestments.com
Matt Crystal Managing Director – Investor Relations 713-659-6100
mcrystal@encapinvestments.com
Diamondback Energy (NASDAQ:FANG)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Diamondback Energy (NASDAQ:FANG)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025
