Deep Blue to Acquire Environmental Disposal Systems from Diamondback Energy (FANG)

Core Insights - Diamondback Energy, Inc. (NASDAQ:FANG) is recognized as one of the best low-cost stocks to buy according to analysts [1] - The company announced a $750 million acquisition deal where Deep Blue will acquire Environmental Disposal Systems, LLC [1][2] Group 1: Acquisition Details - The acquisition is expected to nearly double Deep Blue's size [2] - Diamondback will retain a 30% ownership stake in Deep Blue and will receive approximately $675 million upfront, with potential performance-based earnouts of up to $200 million until 2028 [2] - Following the acquisition, Deep Blue's system will manage treatment of 1.2 million barrels per day, gather 1.6 million barrels per day, and dispose of 3.4 million barrels per day, along with extensive pipeline infrastructure and dedicated acreage [3] Group 2: Company Overview - Diamondback Energy, Inc. is an independent oil and natural gas company focused on exploring and developing unconventional reserves in the Permian Basin, Texas [3]