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Joele Frank Works Endeavor Energy?s $26B Deal
From:
O'Dwyer's Public Relations News O'Dwyer's Public Relations News
For Immediate Release:
Dateline: New York, NY
Monday, February 12, 2024

 

Joele Frank handles Endeavor Energy Resources as the shale oil producer agrees to be acquired by Diamondback Energy in a $26B deal.

The deal makes Diamondback the top independent oil producer in America’s No. 1 oil field, the Permian Basin located in Texas and New Mexico.

Diamondback, which will own 65.6 percent of the combined company, edged the much larger ConocoPhillips for Endeavor.

Travis Stice, Diamond CEO, said the combined company’s “inventory will have industry-leading depth and quality that will be converted into cash flow with the industry’s lowest cost structure, creating a differentiated vale proposition for our shareholders.”

The merged company will be headquartered in Midland, TX. The deal is expected to close by yearend.

Joele Frank, Wilkinson Brimmer Katcher’s Aaron Palash, Andrew Siegel and Lyle Weston represent Endeavor.

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