Diamondback Energy, Kinetik Strengthen Stake In EPIC Crude With New Deal And Long-Term Commitments
Portfolio Pulse from Lekha Gupta
Diamondback Energy and Kinetik Holdings have increased their stakes in EPIC Crude Holdings, each acquiring a 27.5% equity interest. This strategic move involves long-term volume commitments and aims to enhance financial returns and reduce costs. Diamondback is also increasing its crude commitment following its merger with Endeavor Energy Resources.
September 24, 2024 | 4:58 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Diamondback Energy has increased its stake in EPIC Crude Holdings to 27.5% and is committing to 200 MBpd, enhancing its position in the Permian Basin.
Diamondback's increased stake and volume commitment in EPIC Crude Holdings positions it as a key player in the Permian Basin, likely boosting its financial returns and market position.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Kinetik Holdings has acquired a 27.5% stake in EPIC Crude Holdings and established a new transportation arrangement, enhancing its market access.
Kinetik's new stake and transportation arrangement with EPIC Crude Holdings are expected to enhance its market access and financial returns, benefiting its crude customers.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85