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BRIEF-Diamondback to expand in Permian with $2.43 bln acreage buy
December 14, 2016 / 9:47 PM / a year ago

BRIEF-Diamondback to expand in Permian with $2.43 bln acreage buy

Dec 14 (Reuters) - Diamondback Energy Inc

* Announces transformational acquisition in the Delaware Basin and increases 2017 production outlook

* Deal immediately accretive on acreage and financial metrics

* Increasing its preliminary full year 2017 production guidance to a range of 64.0 to 73.0 mboe/d

* Increasing its 2017 capital expenditure guidance to a range of $700 to $900 million

* Deal for purchase price of $2.43 billion

* To acquire all leasehold interests and related assets of Brigham Resources Operating LLC and Brigham Resources Midstream LLC

* Purchase price consisting of $1.62 billion in cash and 7.69 million shares of Diamondback common stock

* Intends to finance cash portion of purchase price, through cash on hand and proceeds from one or more capital markets transactions

* Diamondback anticipates it will spend up to $75 million on infrastructure investments in delaware basin in 2017Source text for Eikon: Further company coverage:

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