WASHINGTON (dpa-AFX) - Shares of Diamondback Energy, Inc. (FANG) gained over
7% on Monday morning after the company announced a deal to buy privately-held
Endeavor Energy Resources for around $26 billion, inclusive of debt.

FANG is currently trading at $163.32, up $11.57 or 7.63%, on the Nasdaq. The
stock opened its trading at $153.71 after closing Friday at $151.74. The stock
has traded between $119.01 and $171.40 in the past 52-week period.

The deal is expected to close in the fourth quarter and will create a premier
Permian independent operator. The transaction will consist of around 117.3
million shares of Diamondback and $8 billion of cash.

After the deal, Diamondback's shareholders are expected to own around 60.5
percent, whereas Endeavor's equity holders own around 39.5 percent of the
combined company.



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