Diamondback Energy completes $26 billion merger with Endeavor Energy

(WO) — Diamondback Energy announced that it has closed its merger with Endeavor Energy Resources, the company said on Sept. 10.

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“We are pleased to announce the closing of this transformative merger, creating a ‘must own’ North American independent oil company,” Travis Stice, chairman and CEO of Diamondback, said. “Today, Diamondback is not only bigger, but better. Our high-quality inventory located in the heart of the Permian Basin gives us the running room to do what we do best: turn rock into cash flow.”

Stice continued, “I would like to thank our employees for all their hard work in getting this deal across the finish line and welcome the Endeavor employees to the Diamondback team. Together, I am confident we can continue to build off of Diamondback’s impressive operational track record of low-cost operations and position the new Diamondback for long-term success.”