Diamondback Energy’s $26 Billion Endeavor Acquisition Shakes Up Permian Basin

Last year, when the full extent of the unprecedented consolidation wave in the shale sector gradually became apparent, we speculated that when it's all said and done, US energy companies would have more production discipline than the OPEC+ cartel, and sure enough, today we got the latest confirmation when Diamondback Energy agreed to buy fellow Texas oil-and-gas producer, the closely privately-held Endeavor Energy, in a $26 billion cash-and-stock deal that will create the third-largest oil producer in the Permian, behind only Exxon and Chevron.…