Diamondback Beefs Up Midland Basin Position With $538 Million Acquisition

Transaction Type

Sellers

Rio Oil and Gas LLC

B C Operating Inc.

Bluestem Energy LP

Crown Oil Partners V LP

Crump Energy Partners V LP

Buyers

Diamondback Energy Inc.

Announce Date

Mon, 07/21/2014 - 12:00 PM

Post Date

Jul 21, 2014

Close Date

Fri, 09/12/2014 - 12:00 PM

Estimated Price

539MM

Description

Bought 13,136 net acres, 88% operated, within the Midland Basin primarily in Midland and Glasscock counties; Includes 5.2 MMboe proved reserves.

Diamondback Beefs Up Midland Basin Position With $538 Million Acquisition