American Oil and Gas Reporter - March 2024 - 18

IndustryDigest
EKOGA Midyear Meeting
Set For April In Fall River
TOPEKA, KS.-The Eastern Kansas
Oil & Gas Association is scheduled to
hold its midyear meeting on April 11 at
the Flint Oak Hunting Lodge in Fall
River, Ks.
According to EKOGA, morning events
include an EKOGA Board of Directors
Meeting, a legislative update and
educational sessions with presenters from
the Kansas Corporation Commission,
National Stripper Well Association and
Kansas Strong. A membership luncheon
will follow. Afternoon events include a
clay shoot and reception.
" Members will enjoy a Sporting
Clays shoot and all the lodge has to
offer, with fishing, equestrian and
hiking trails available, " notes EKOGA
President Brian Posler. " Add in
excellent company, food and drinks.
This year's meeting is not to be
missed. "
For information, contact EKOGA at
620-431-1020 or visit www.ekoga.org. ❒
Diamondback Acquires
Endeavor For $26 Billion
MIDLAND-Diamondback Energy
Inc. and Endeavor Energy Resources LP
have agreed to merge in a transaction
valued at about $26 billion.
According to the companies,
Diamondback is on pace to produce
270,000-275,000 barrels a day in 2024
with a total capital budget of $2.30
billion-$2.55 billion. Meanwhile,
Endeavor projects it will produce
190,000-200,000 bbl/d on a total capital
budget of $2.50 billion-$2.60 billion.
Wood Mackenzie says the
companies' combined production of
816,000 barrels of oil equivalent a day
will have Diamondback operating
nearly half of all Midland Basin
production. " This deal creates the
largest Permian pure play company, and
it will trail just ExxonMobil and
Chevron in terms of total Permian
production, " assesses Alex Beeker,
research director for corporate research
at Wood Mackenzie.
A Wall Street Journal article about
the deal indicates it will grant
Diamondback " top-tier status in the
Permian, endowing it with nearly as
much acreage in the basin as
ConcoPhillips, and crude production
likely eclipsing 400,000 bbl/d. "
" This combination meets all the
required criteria for a successful
combination: sound industrial logic
with tangible synergies, improved
combined capital allocation and
significant near- and long-term financial
accretion, " says Diamondback
Chairman and Chief Executive Officer
Travis Stice. " Our companies share a
similar culture and operating
philosophy and are headquartered
across the street from one another,
which should allow for a seamless
integration of our two teams. As a
result, we look forward to continuing to
deliver best-in-class results with a
combined employee base headquartered
in Midland. "
" As we look toward the future, we are
confident joining with Diamondback is a
INEXPENSIVE
FAULT
DETECTION
For Horizontal Wells
GEOPHYSICSINTERNATIONAL.COM
18 THE AMERICAN OIL & GAS REPORTER
http://www.ekoga.org http://www.GEOPHYSICSINTERNATIONAL.COM
American Oil and Gas Reporter - March 2024

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