The asset-rich Permian Basin continues to make energy sector headlines even in 2024. Last year, Exxon Mobil (XOM) and Chevron (CVX) were among the oil majors to ink blockbuster deals in the region, and now Diamondback Energy (FANG) is set to acquire privately owned Endeavor Energy Partners in a cash-and-stock deal worth $26 billion.
The deal will make the newly combined company the third-largest oil and gas producer in the Permian Basin - right behind rival Exxon, which scooped up Pioneer Natural Resources (PXD) in an all-stock deal worth $59.5 billion, and Chevron, which agreed to buy Hess (HES) for $53 billion.
