Diamondback Energy to explore sale of west Permian Basin assets - report
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Diamondback Energy (NASDAQ:FANG) is looking to sell non-core assets in the western part of the Permian Basin as the company looks to cash in on a potentially more active deal market in U.S. shale, Bloomberg reported Tuesday.
The company reportedly is working with a financial advisor to seek a buyer for assets around Pecos County, Texas, although it is not clear what the assets might fetch in a sale.
Diamondback Energy's (FANG) hedging strategy is "far more robust and protective than its peers, [which] gives FANG a decided advantage for shareholder returns," Ronald Ferrie writes in an analysis newly published on Seeking Alpha.