U.S. oil producer Diamondback Energy (FANG.O) agreed in February 2024 to purchase rival privately held rival Endeavor Energy Partners in $26 billion cash-and-stock deal. The newly combined company would be the third-largest oil and gas producer in the Permian Basin of West Texas and New Mexico, behind Exxon Mobil (XOM.N) and Chevron (CVX.N).