Diamondback energy, inc. announces midland basin acquisition

Midland, texas, dec. 21, 2020 (globe newswire) -- diamondback energy, inc. (nasdaq: fang) (“diamondback” or the “company”) today announced it has entered into a definitive purchase agreement to acquire all leasehold interests and related assets of guidon operating llc ( “guidon” or the “seller”) 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 the company's credit facility.
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