Permian Basin Merger Rocks Industry

Diamondback Energy and Endeavor Energy Resources to Merge in $26 Billion Deal

Permian Basin rivals Diamondback Energy and Endeavor Energy Resources are set to merge in a significant $26 billion deal later this year. This move will make Diamondback the largest pure-play company in the Permian Basin. With the Permian Basin’s inventory becoming tighter, companies like Diamondback and Endeavor are looking to acquire other companies to expand their reserves of premium shale. Merging with Endeavor is a strategic move for Diamondback and an opportunity for both companies to strengthen their positions in the industry.