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Latham & Watkins Advises Diamondback Energy in Sale of Williston Basin Assets

May 3, 2021
A Houston-based corporate team advises the independent oil and natural gas company.

Diamondback Energy has announced that it has entered into a definitive agreement with Oasis Petroleum North America LLC to sell approximately 95,000 net acres in the Williston Basin, which were acquired in the merger with QEP, for a gross purchase price of US$745 million.

Latham & Watkins Advises Diamondback Energy in the transaction with a corporate deal team led by Houston partners Stephen Szalkowski and Mike King, with associates Mike Sellner, Tom Hillebrand, Corey Allen, Luke Strother and Matt Cannon, and assistance from Houston partner John Greer. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Marianne Standley; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum, with associate Kirk Porter; on finance matters by Houston partner Catherine Ozdogan, with associate Brian Flynn; and on antitrust matters by Washington, D.C. partner Jason Cruise and counsel Sydney Smith.