Diamondback Energy Inc. stock was up 0.8% in premarket trades on Monday after the company said it would get a $500 million payment and retain a 30% equity...
Diamondback Energy Inc.
stock was up 0.8% in premarket trades on Monday after the company said it would get a $500 million payment and retain a 30% equity interest as part of the formation of a new joint venture entity, Deep Blue Midland Basin LLC, with Five Point Energy LLC, a private-equity firm. Diamond Back and Five Point will also contribute an additional $500 million for future growth and acquisitions by Deep Blue Midland.
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