Diamondback Energy (FANG) will acquire Endeavor Energy Resources in a deal valued at $26 billion, just the latest instance of M&A activity in the energy space.
TD Cowen Senior Analyst David Deckelbaum lists all the advantages Diamondback has to gain from this merger, including strengthening its hold on the Permian Basin.
"You're practically buying the same sort of acres that you have now, so you really have no degradation performance, valuation was very reasonable, and now you just really scaled to now be the thirdlargest producer in the Permian Basin," Deckelbaum tells Yahoo Finance.
#oil #youtube #stockmarket
About Yahoo Finance:

Yahoo Finance provides free stock ticker data, uptodate news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.

Get the latest news and data at finance.yahoo.com

Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)

Follow Yahoo Finance on social:

X:   / yahoofinance  
Instagram: https://www.instagram.com/yahoofinanc...
TikTok: https://www.tiktok.com/@yahoofinance?...
Facebook:   / yahoofinance  
LinkedIn:   / yahoofinance