NasdaqGS:FANGOil and Gas
Are Diamondback Energy's (FANG) Asset Sales Sharpening Its Focus or Limiting Future Optionality?
In recent announcements, Diamondback Energy agreed to sell its Environmental Disposal Systems unit to Deep Blue Midland Basin LLC for US$750 million, including a 30% retained stake and renewed water services deal, and divest its 27.5% equity interest in EPIC Crude Holdings to Plains All American Pipeline for about US$500 million in upfront cash plus potential contingent payments.
These moves highlight Diamondback's efforts to unlock value from non-core assets while consolidating focus on...