Kirkland Advises Diamondback Energy, Inc. on Acquisition of Certain Subsidiaries of Double Eagle
Kirkland & Ellis advised Diamondback Energy, Inc. (NASDAQ: FANG) on a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco, LLC (“Double Eagle”) in exchange for approximately 6.9 million shares of Diamondback common stock and $3 billion of cash, subject to customary adjustments. As part of this agreement, Diamondback and Double Eagle have agreed to accelerate development on a portion of Diamondback’s non-core southern Midland Basin acreage. Diamondback expects the transaction to close on April 1, 2025, subject to the satisfaction of customary closing conditions and regulatory approval.
Read Diamondback’s press release
The Kirkland team included corporate lawyers Chris Heasley, Jarrod Gamble, Sean Wheeler, Debbie Yee, Camille Meissner, Lauren Stelck, Mohammad Alkadhem, Bernadette Hayden, Trent Tucker, Rachel Miller, Dakota Priest, Bridget Hamway, Tyler Carrington Ambrose and Pi Praveen; tax lawyers David Wheat and Joe Tobias; debt finance lawyers Rachael Lichman and Layton Bell; capital markets lawyers Michael Rigdon and Billy Vranish; antitrust & competition lawyers Chuck Boyars and Matthew Wheatley; and environmental transactions lawyers Jonathan Kidwell and Jennifer Cornejo.
