Oil and gas competitors close to USD 50bn merger

Diamondback is one of the fastest-growing fracking companies in the US while Endeavor Energy Resources is one of the most valuable firms in the largest oil region in the country.

BY MARKETWIRE

Two competitors, Diamondback Energy and Endeavor Energy Resources, are finalizing a merger that will result in the creation of an oil and gas giant worth more than USD 50bn. Higher oil prices and competition for the best land for oil and gas exploration are driving consolidation in the US energy sector, according to the Wall Street Journal.

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