Diamondback Spends $114M On Texas Oil, Gas Acreage

Law360, New York (February 20, 2014, 3:08 PM EST) -- Oil and natural gas company Diamondback Energy Inc. said Thursday it will pay $114.3 million for 1,858 leasehold acres in Martin County, Texas, in addition to nearly 3,000 acres it announced two days earlier that it had purchased.

Combined with the earlier announcement that it had bought 2,825 net acres in the county for $174 million, Diamondback has now entered into definitive agreements to acquire an aggregate of 4,683 net acres in the Permian Basin, representing a 72.6 percent working interest, for a total purchase price...
To view the full article, register now.