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With Daniel Lippman and Steven Overly
IRANIAN SCHOLAR CHARGED WITH VIOLATING FARA: The Justice Department announced today it has arrested an Iranian political scientist and scholar for acting as an unregistered agent of the Islamic Republic. According to a complaint unsealed today in federal court in Brooklyn,
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With Daniel Lippman
Donald Trump rioters storming the Capitol as lawmakers prepared to certify
Joe Biden’s electoral college victory left K Street stunned this afternoon. “I fear for our democracy,” one lobbyist, who asked to remain anonymous given the situation’s volatility, told PI, adding that they’d never seen anything like the chaos on the Hill that unfolded Wednesday in more than three decades in Washington. “This is a test of our democracy.”
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With Daniel Lippman
PROGRAMMING NOTE: POLITICO Influence will not publish from Thursday, Dec. 24 - Friday, Jan. 1. We ll be back on our normal schedule on Monday, Jan. 4. Please continue to follow POLITICO Influence.
Diamondback agrees to acquire two rivals; deals total $1.4 billion
Simon Casey, Bloomberg
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Travis Stice, Diamondback Energy CEOCourtesy Photo
Diamondback Energy Inc. rounded off a tumultuous year for the U.S. shale industry with the acquisition of two rival producers for about $1.4 billion that will expand the company’s position in the Permian Basin.
Diamondback said Monday in a statement it agreed to buy shale oil and natural gas producer QEP Resources Inc. The all-stock deal values QEP at $2.29 per share, or about $555 million.
In a separate statement, Diamondback said it agreed to purchase closely held Guidon Operating LLC. That cash-and-stock deal values Guidon, which was co-founded in 2016 by funds managed with Blackstone Group, at about $862 million.
Diamondback Boosts Permian Basin Presence With 2 Shale Deals
Bloomberg 12/21/2020 David Wethe and Simon Casey
(Bloomberg) Diamondback Energy Inc. rounded off a tumultuous year for the U.S. shale industry with the acquisition of two rivals for about $1.4 billion that will expand the company’s position in the Permian Basin.
Diamondback on Monday announced an agreement to buy shale explorer QEP Resources Inc. in an all-stock deal and, separately, an accord to acquire closely held Guidon Operating LLC, which was co-founded in 2016 by funds managed by Blackstone Group, for a mix of cash and stock.
The purchases are a bet by Midland, Texas-based Diamondback on the resilience of the shale sector, where production has dropped following this year’s historic collapse in crude prices. The deals are Diamondback’s largest since its $7 billion takeover of Energen Corp. in 2018, and will bring its total leasehold interests to more than 276,000 net surface acres in t