Deal Insight
Diamondback acquires Permian operator FireBird for US$1.6 billion
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Diamondback Energy has announced the acquisition of private equity funded, Midland Basin pure-play, FireBird Energy for US$1.6 billion. Assets include 68,000 net acres in the western section of the basin, approaching the boundary with the Central Basin Platform, largely in Ector County. Three rigs are currently active on the position, supporting 22,000 boe/d of production (77% oil) from the leasehold. Primary targets are shallower Wolfcamp A and B zones, along with Middle and Lower Spraberry inclusive of the Jo Mill section.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
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Upsides and risks
- Upsides
- Risks
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Strategic rationale
- FireBird Energy
- Diamondback
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1FireBird and Diamondback lease positionsUpstream assets: Table 1
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Deal analysis: Table 1Deal analysis: Table 2Deal analysis: Table 3Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
