Akin Gump Advises Diamondback Energy in Pair of Permian Basin Acquisitions

(Dallas) – Akin Gump has advised Diamondback Energy, Inc. in a pair of deals announced today through which the company intends to expand its presence in the Permian Basin.

In one of the deals, Diamondback and QEP Resources announced that they have entered into a definitive agreement under which Diamondback will acquire QEP in an all-stock transaction valued at approximately $2.2 billion, including QEP’s net debt of $1.6 billion as of September 30, 2020.

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The Akin Gump team members and their respective areas of work included:

In the second transaction, Diamondback has entered into a definitive purchase agreement to acquire all leasehold interests and related assets of Guidon Operating LLC in exchange for 10.63 million shares of Diamondback common stock and $375 million of cash. The cash portion of this transaction is expected to be funded through a combination of cash on hand and borrowings under Diamondback’s credit facility.

To learn more about this transaction, please click here.

The Akin Gump deal team and their respective areas of work were:

In both transactions, Akin Gump assisted Diamondback general counsel Matt Zmigrosky.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75

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