From Yahoo Finance: 2025-04-03 11:21:00

EnCap Investments and Double Eagle team form Double Eagle Energy Holdings V and Tumbleweed Royalty V with $2.5bn. Double Eagle V to invest in Permian Basin oil and gas properties. Tumbleweed V to focus on royalties in US basins. Management team from predecessor companies leads new entities. EnCap excited for partnership continuation.

Diamondback Energy acquires Double Eagle IV Midco subsidiaries, expanding in Midland Basin. Assets cover 40,000 net acres, expected to produce 27,000 barrels of oil per day. Double Eagle to receive 6.9 million shares of Diamondback stock and $3bn in cash. Deal solidifies presence in US energy sector.

Read more: Double Eagle Energy, Tumbleweed Royalty form new entities with $2.5bn in equity