Diamondback Eyes $5B Acquisition of Double Eagle in Permian Basin

Diamondback Energy, Inc. (FANG) , a prominent U.S. oil player, is reportedly in discussions to acquire Double Eagle, a West Texas crude producer. This potential acquisition, valued at over $5 billion, highlights Diamondback's commitment to strengthening its foothold in the prolific Permian Basin, the country’s largest oil field.If no new possible buyer emerges or the talks don’t fall apart, the acquisition deal may be finalized in a few days.An Overview of Double EagleBacked by private equity firm EnCap Inv ...