US oil and gas M&A hits quarterly record after blockbuster 2023 [Reuters]
Diamondback Energy, Inc. (FANG)
Last diamondback energy, inc. earnings: 2/18 04:01 pm
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Source: Reuters
Energy companies have rushed to expand oil and gas drilling inventories, especially in the Permian Basin of West Texas and New Mexico, where producer break-even costs are about $64 a barrel. Oil prices averaged about $77 a barrel last quarter and this week traded near $83 per barrel. Most of the high-quality U.S. drilling prospects are in the Permian "so it is unsurprising the prolific basin was yet again the primary driver for M&A within oil and gas," said Andrew Dittmar, Enverus Intelligence Research's principal analyst. The biggest proposed acquisition last quarter was Diamondback Energy's (FANG.O) New Tab , opens new tab $26 billion bid for closely held Endeavor Energy Partners , a merger that brings together two Permian-centric drillers. Report this ad Apache Corp parent APA (APA.O) New Tab , opens new tab 's $4.5 billion deal for Permian oil rival Callon Petroleum, and natural gas Chesapeake Energy (CHK.O) New Tab , opens new tab 's April $7.4 billion deal for Sou
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FANG
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FANG
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- 4/30/24 - Form 8-K
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