Diamondback Energy to buy Endeavor Energy for $26 billion

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Reuters
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(Reuters) - Diamondback Energy on Monday decided to buy the largest privately held oil and gas producer in the Permian basin, Endeavor Energy Partners, in a cash-and-stock deal for about $26 billion, including debt.

The deal comes after a new wave of consolidation in the prolific Permian basin to boost production, the biggest in 2023 being Exxon Mobil's $60 billion deal for Pioneer Natural Resources.

Diamondback Energy on Monday decided to buy the largest privately held oil and gas producer in the Permian basin, Endeavor Energy Partners, in a cash-and-stock deal for about $26 billion, including debt.

The deal comes after a new wave of consolidation in the prolific Permian basin to boost production, the biggest in 2023 being Exxon Mobil's $60 billion deal for Pioneer Natural Resources.

The combined company would be the third largest oil and gas producer in