Diamondback is actively working with a financial adviser to find buyers for non-core assets in the western Permian, Bloomberg reported, citing unnamed sources familiar with the matter. Bloomberg also noted that Diamondback had now doubled its asset sale target to $1 billion, and based on Wednesday’s share price, the company is worth just under $27 billion.
Also on Wednesday, confidence in Diamondback’s growth potential was given a further boost when institutional investor Paragon Advisors LLC acquired $1.6 million in shares.
Oil & Gas Permit Download
Diamondback Wells Drilled Since 2022
Diamondback has an upstream and midstream segment, with the upstream largely centered around the western Permian.
The Permian basin is an increasingly attractive venue for E&P companies as oil prices rise and bullish sentiment persists.
Diamondback Wells Drilled Map
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