Diamondback Energy, Inc. Announces Northern Midland Basin Acquisition

Vinson & Elkins advised Lario Permian, LLC, a wholly owned subsidiary of Lario Oil & Gas Company, and certain associated sellers (collectively “Lario”), in connection with a definitive purchase agreement whereby Diamondback Energy, Inc. (“Diamondback”) will acquire all leasehold interest and related assets of Lario in exchange for 4.18 million shares of Diamondback common stock and $850 million of cash.

The Vinson & Elkins team was led by partners John Grand, Doug McWilliams and Brian Moss and counsel Elena Sauber, with assistance from partner David Cohen, senior associates Jackson O’Maley and Alexander Baker and associates Anne Jensen, Alex Turner, Katherine Harclerode and Walt Baker. Other key team members include partners James Longhofer and Guy Gribov; partner Todd Way and associates Jeff Slusher and Steve Campbell; partners Matt Stammel and Hill Wellford and associate Paul Hill; partner Matt Dobbins and associate Kelly Rondinelli; partner Sarah Mitchell; partner Sean Becker and associate Ryan Penner; partner Shane Tucker and senior associate Nicole Waterstradt; and partner Michael Kurzer.

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