Each one in plain English, with the numbers worked through for a shareholder.
18 Feb 2025capital raising announcement● NeutralMajor
Diamondback agreed on February 14, 2025 to buy three subsidiaries of Double Eagle IV Midco, LLC for $3.0 billion in cash plus about 6.9 million Diamondback shares, subject to adjustments. The cash is to come from cash on hand, its credit facility and/or term loans and senior notes, and the deal is expected to close April 1, 2025. Diamondback also committed to sell at least $1.5 billion of non-core assets and said it expects to reduce net debt to $10 billion. The company says the asset is about 40,000 net acres in the Midland Basin producing roughly 27 MBo/d, and that the deal is immediately accretive; these are company claims. This is the Double Eagle deal that earlier context listed as announced March 2025; the filing shows the agreement was signed in February 2025.
21 Nov 2022capital raising announcement▲ GoodMajor
On Nov 16, 2022, Diamondback agreed to buy Lario Permian's roughly 25,000 gross (15,000 net) Northern Midland Basin acres for $850 million cash plus about 4.18 million shares, expected to close January 31, 2023. It is a second bolt-on alongside the pending FireBird deal; the company says together they add about 83,000 net acres, and funding is planned from cash, credit facility borrowings and/or a notes offering.
12 Oct 2022capital raising announcement▲ GoodMajor
On Oct 11, 2022, Diamondback agreed to buy FireBird Energy's roughly 75,000 gross (68,000 net) Midland Basin acres for $775 million cash plus 5.86 million shares, expected to close late in Q4 2022. The company says it expects to cut its operated rigs on the asset from three to one after closing, and announced a target to sell at least $500 million of non-core assets by end of 2023, with proceeds for debt reduction. This continues the run of Midland Basin bolt-ons after the 2021 Guidon deal.
This amendment reports that the Guidon acquisition (about 32,500 net acres in the Northern Midland Basin, agreed Dec 2020) closed on February 26, 2021. Diamondback paid the cash consideration ($375 million per the original deal) and issued 10.68 million shares, slightly more than the 10.63 million first announced, under the agreement's adjustment terms. This resolves the pending Guidon deal.
14 Dec 2016capital raising announcement● NeutralMajor
On Dec 13, 2016 Diamondback agreed to buy Brigham Resources' Pecos and Reeves county assets for about $2.43 billion ($1.62 billion cash plus 7.69 million shares), with closing scheduled for February 2017. To fund the cash portion it launched a 10.5 million-share stock offering and proposed $250 million of senior notes due 2025.
