{
  "id": 20222699,
  "title": "Diamondback nears $5 billion deal to buy drilling portfolio from Double Eagle, FT says",
  "url": "https://urgent.news/2026/11/15/diamondback-nears-5-billion-deal-to-buy-drilling-portfolio-from",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-15T19:42:18.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/diamondback-nears-5-billion-deal-to-buy-drilling-portfolio-from-double-eagle-ft-says-5028067"
  },
  "original_language": "en",
  "account": "Diamondback Energy, a leading US shale producer, is on the verge of finalizing a significant $5 billion acquisition to bolster its presence in the oil-rich Permian Basin in Texas, according to a report by the Financial Times. The deal involves the purchase of Double Eagle V, a drilling portfolio backed by private equity firm EnCap Investments.\n\nDouble Eagle V is currently managed by private equity firm EnCap Investments. If finalized, this acquisition will enable Diamondback to expand its operations within the Permian Basin, a region already central to its strategic growth plans.\n\nThis potential deal marks a continuation of Diamondback's recent aggressive expansion strategy. Just last week, Diamondback sealed a $26 billion purchase of Five Point Infrastructure's 70% stake in Deep Blue Midland Basin, a key water infrastructure firm in the Permian Basin.\n\nThe company's ambitions are further highlighted by its recent $4.08 billion acquisition of certain Double Eagle units in February 2025. These moves position Diamondback as a formidable player in the Permian Basin, a region known for its vast oil reservoirs.\n\nAs of now, the deal is expected to be announced within the coming week, pending final negotiations. The transaction is anticipated to involve a mix of cash and stock, further diversifying Diamondback's investment portfolio.",
  "summary": null,
  "key_points": [
    "Diamondback Energy nears $5B deal to buy Double Eagle V portfolio.",
    "Acquisition aims to expand operations in Texas' Permian Basin.",
    "Deal expected to be announced within week, pending final negotiations."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Financial Times",
        "title": "Diamondback nears $5bn deal to expand drilling in oil-rich Permian Basin",
        "url": "https://urgent.news/2026/11/15/diamondback-nears-5bn-deal-to-expand-drilling-in-oil-rich-permian",
        "published": "2026-11-15T18:27:27.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Diamondback nears $5B deal for Double Eagle’s Permian assets, FT reports",
        "url": "https://urgent.news/2026/11/15/diamondback-nears-5b-deal-for-double-eagles-permian-assets-ft-reports",
        "published": "2026-11-15T20:12:27.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}