Deal insight

Diamondback Energy acquires Midland Basin assets for US$437.8 million

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Report summary

This deal is the first major M&A transaction associated with the Wolfcamp since low oil prices muted the market. Low oil prices do not appear to have drastically altered the asset valuation; Diamondback paid a comparable price to what Breitburn paid, adjusted for flowing production, for adjacent acreage in October 2014 (when WTI was priced at US$85/bbl). Diamondback paid higher than our estimated Deep Basin base case valuation of US$12,600/acre, (outlined in the Wolfcamp Key Play Report).

What's included

This report contains

  • Document

    Diamondback Energy acquires Midland Basin assets for US$437.8 million

    PDF 2.81 MB

Table of contents

  • Executive summary
  • Upstream assets
  • Deal analysis
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 3 images and tables including:

Images

  • Wolfcamp sub-plays
  • Cost per acre by acquisition

Tables

  • Oil & gas pricing and assumptions: Table 1

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