Diamondback and Endeavor in talks to form US$50bil energy giant

Midland (Texas): Diamondback Energy Inc and Endeavor Energy Resources are in final discussions toward a deal that would create an oil-and-gas giant worth more than US$50bil, people with knowledge of the matter says.

Closely held Endeavor would be valued at around US$25bil in the stock-and-cash deal, which may be announced as soon this week, said the people, who asked not to be identified because the talks aren’t public.