{"url":"https://newsforagent.com/news/2026-11-15/diamondback-double-eagle-permian-deal","markdown_url":"https://newsforagent.com/news/2026-11-15/diamondback-double-eagle-permian-deal.md","title":"Diamondback Energy Nears $5 Billion Double Eagle Deal","headline":"Diamondback Energy Nears Roughly $5 Billion Deal for Double Eagle Drilling Portfolio","description":"Diamondback Energy is nearing a roughly $5 billion deal to buy a drilling portfolio from Double Eagle, expanding its Permian Basin footprint in Texas.","section":"Mergers & Acquisitions","published_at":"2026-11-15T19:45:34+00:00","modified_at":"2026-11-15T19:45:34+00:00","author":"News Desk","key_takeaways":["Diamondback Energy is nearing a roughly $5 billion deal to acquire a drilling portfolio from Double Eagle, according to the Financial Times.","The acquisition would expand Diamondback's footprint in the oil-rich Permian Basin in Texas.","Double Eagle V signed an agreement with EagleRock for about 35,000 additional dedicated acres in the Midland Basin."],"companies":[{"name":"Diamondback Energy","is_primary":true,"profile_url":null,"website":"http://www.diamondbackenergy.com"},{"name":"Double Eagle Development","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0002v77/double-eagle-development","website":"http://www.doubleeagledevelopment.com"}],"source":{"publisher":"The future of trading","title":"Diamondback nears $5 billion deal to buy drilling portfolio from Double Eagle, FT says","url":"https://capital.com/en-int/news/diamondback-nears-5-billion-deal-to-buy-drilling-portfolio-from"},"other_sources":[],"tags":["Mergers & Acquisitions","Diamondback Energy","Double Eagle Development"],"body_markdown":"Diamondback Energy is nearing a roughly $5 billion deal to acquire a drilling portfolio from Double Eagle, expanding its footprint in the oil-rich Permian Basin in Texas. [Capital.com](https://capital.com/en-int/news/diamondback-nears-5-billion-deal-to-buy-drilling-portfolio-from) cited the Financial Times, which reported the talks citing people familiar with the matter, and said Reuters could not immediately verify the report.\n\n## Diamondback's Roughly $5 Billion Double Eagle Deal\n\nDiamondback Energy is a Permian Basin-focused oil and gas producer. [Double Eagle Development](https://akta.pro/company-profiles/0002v77/double-eagle-development) is the drilling portfolio seller in the reported transaction. The deal is valued at roughly $5 billion, according to the Financial Times report cited by Capital.com. The report did not state how the consideration would be paid or when the transaction would close.\n\nThe reported acquisition would expand Diamondback's footprint in the Permian Basin in Texas. Diamondback CEO Kaes Van't Hof said on November 3, 2026 that the Permian Basin pureplay is not looking to diversify into other basins, according to [Hart Energy](https://akta.pro/news-signals). The company, with a $54-billion market cap, will stick to its current focus, Hart Energy reported.\n\nDouble Eagle V signed an agreement with EagleRock for about 35,000 additional dedicated acres, [Pulse 2.0](https://akta.pro/company-data) reported on November 9, 2026. EagleRock completed two Midland Basin acquisitions for $15.4 million, expanding its Permian footprint to roughly 105,000 dedicated acres, with revenue expected in 2027, according to Pulse 2.0.\n\n## Diamondback's Permian Production Plans Before the Deal\n\nOn November 3, 2026, Van't Hof said Diamondback would keep production plans steady into next year, targeting modest single-digit growth, TradingView reported. The firm guided output of 1.025-1.045M boe/day and 518-528K bbl/day of oil for 2027, planning 19-20 rigs and five frac crews, according to TradingView.\n\nBloomberg reported on November 3, 2026 that Diamondback plans to keep shale drilling activity steady in 2027 despite crude prices hovering near $100. Van't Hof expects prices to stay higher-for-longer but is erring on the side of caution regarding exploration and production, Bloomberg reported.\n\nOn November 2, 2026, Hart Energy reported that Viper Energy is building a minerals position in the Barnett play, betting on Diamondback Energy's expanding drilling program to unlock value in undeveloped royalty acreage. The $890 million bet tracks Diamondback's drilling activity in the western Midland Basin, according to Hart Energy.\n\n## Double Eagle's EagleRock Acreage Agreement\n\nDouble Eagle V's agreement with EagleRock covers about 35,000 additional dedicated acres, Pulse 2.0 reported on November 9, 2026. EagleRock's two Midland Basin acquisitions totaled $15.4 million, and the company expects revenue from the expanded footprint in 2027, according to Pulse 2.0.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}