E&Ps continue to look at the Permian Basin for undeveloped acreage, but deal activity in the Eagle Ford Shale surged in the first quarter as buyers searched for producing assets.
Diamondback CEO: Shareholder value behind QEP, Guidon deals
Dec. 21, 2020
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Travis Stice, Diamondback Energy CEO, speaks at the 2020 State of Oil & Gas luncheon Jan. 20 at the Bush Convention Center. Diamondback announced Monday it is acquiring two companies in deals totaling about $3 billion.Tim Fischer/Midland Reporter-Telegram
Energy analysts woke up Monday morning to the news that Midland-based Diamondback Energy is making two acquisitions for a total of about $3 billion.
“We did not need to do either of these trades to execute our business plan,” said Travis Stice, Diamondback’s chief executive officer, sitting in his company’s conference room.
“When we do a deal, it has to demonstrate shareholder value. The way we look at that is if the deals are accretive,” he said.