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U.S. Federal Trade Commission: Diamondback Energy receives a second request

03/05/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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Last Monday, the oil and gas company Diamondback Energy FANG.O said it had received a second request from the United States Federal Trade Commission (FTC) as part of the takeover operation of the company. Endeavor private company, worth 26 billion dollars

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DiamondBack said in February that it would buy its private rival Endeavor Energy Partners in a cash and stock deal expected to close in the fourth quarter. The new company would be the third-largest oil and gas producer in the Permian Basin of West Texas and New Mexico, behind Exxon Mobil XOM.N and Chevron. This is the fifth oil and gas deal since December to be the subject of a second request from the FTC

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