Diamondback nears $5B deal for Double Eagle’s Permian assets, FT reports

Detailed summary

Diamondback Energy is nearing an approximately $5 billion purchase of Double Eagle V’s Permian assets; an agreement could come as early as next week.

Diamondback Energy (FANG) is closing in on an approximately $5 billion acquisition of Double Eagle V, an EnCap Investments-backed company with oil and gas holdings in the Texas Permian Basin, the Financial Times reported Sunday, citing people familiar with the discussions.

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