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.