American Oil and Gas Reporter - April 2021 - 18

pages 13-19_Layout 1 4/8/2021 3:58 PM Page 18

Diamondback Energy
Completes QEP Buy
MIDLAND-Diamondback Energy
Inc. completed its previously announced
acquisition of QEP Resources Inc. in an
all-stock merger after QEP's
stockholders voted in favor of the
merger and related proposals at their
special meeting on March 16, 2021.
" We are excited to announce that we
have completed our acquisition of
QEP, " states Diamondback Chief
Executive Officer Travis Stice. " This
deal, along with our recently completed
acquisition of certain assets from
Guidon Operating LLC, bolsters our
Tier 1 Midland Basin inventory and
positions us to allocate a majority of our
capital to the high-returning Midland
Basin for the foreseeable future. "
Under the deal, QEP stockholders
receive 0.05 of a share of
Diamondback common stock for each
share of QEP common stock issued
and outstanding immediately prior to
the effective time of the merger, with
cash to be received in lieu of any
fractional shares. As a result of the
merger, QEP common stock will no
longer be listed for trading on NYSE

and its reporting obligations under the
Securities Exchange Act of 1934 will
be suspended. ❒

Peregrine Energy Buys
West Virginia Royalties
MOUNDSVILLE, W.V.-Peregrine
Energy Partners has agreed to acquire
additional producing and
nonproducing oil and gas royalties in
Marshall County, W.V., from an
undisclosed seller.
According to the company, the
acquisition features production from
multiple oil and gas wells under Chevron,
which saw its production in the region
taken over by EQT in October 2020.
" We have been following EQT's
development of its Appalachian assets
over the past few years and continue to
be impressed with the results, " relates
Peregrine co-founder Wolf Hanschen.
" When they announced their acquisition
of Chevron's Appalachia interests in
October of last year, we started looking
closer at properties that would be
included in this purchase, especially
knowing EQT is one of the most active
operators in the region. "

Peregrine Managing Director Josh
Prier says the company is excited
about the properties because they fit
well within its acquisition criteria.
" They have shallow declines, a bestin-class operator and legacy reserves, "
he describes. " We expect this to be an
asset that provides solid cash flow for
years to come and will continue to
look for additional similar
opportunities both here in West
Virginia and nationwide. " ❒

LOLA Energy Obtains
Production Company
In Butler County, PA.
PITTSBURGH-LOLA Energy III
LLC has acquired 100% of the equity
membership interests in an exploration
and production company with
operations in Butler County, Pa. The
acquired company has changed its name
to LOLA Energy PetroCo LLC to
rebrand as a LOLA Energy owned and
operated company.
" Under our brand of local and
accountable ownership, we will safely
and efficiently continue operations and

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American Oil and Gas Reporter - April 2021

Table of Contents for the Digital Edition of American Oil and Gas Reporter - April 2021

Contents
American Oil and Gas Reporter - April 2021 - Intro
American Oil and Gas Reporter - April 2021 - Cover1
American Oil and Gas Reporter - April 2021 - Cover2
American Oil and Gas Reporter - April 2021 - Contents
American Oil and Gas Reporter - April 2021 - 4
American Oil and Gas Reporter - April 2021 - 5
American Oil and Gas Reporter - April 2021 - 6
American Oil and Gas Reporter - April 2021 - 7
American Oil and Gas Reporter - April 2021 - 8
American Oil and Gas Reporter - April 2021 - 9
American Oil and Gas Reporter - April 2021 - 10
American Oil and Gas Reporter - April 2021 - 11
American Oil and Gas Reporter - April 2021 - 12
American Oil and Gas Reporter - April 2021 - 13
American Oil and Gas Reporter - April 2021 - 14
American Oil and Gas Reporter - April 2021 - 15
American Oil and Gas Reporter - April 2021 - 16
American Oil and Gas Reporter - April 2021 - 17
American Oil and Gas Reporter - April 2021 - 18
American Oil and Gas Reporter - April 2021 - 19
American Oil and Gas Reporter - April 2021 - 20
American Oil and Gas Reporter - April 2021 - 21
American Oil and Gas Reporter - April 2021 - 22
American Oil and Gas Reporter - April 2021 - 23
American Oil and Gas Reporter - April 2021 - 24
American Oil and Gas Reporter - April 2021 - 25
American Oil and Gas Reporter - April 2021 - 26
American Oil and Gas Reporter - April 2021 - 27
American Oil and Gas Reporter - April 2021 - 28
American Oil and Gas Reporter - April 2021 - 29
American Oil and Gas Reporter - April 2021 - 30
American Oil and Gas Reporter - April 2021 - 31
American Oil and Gas Reporter - April 2021 - 32
American Oil and Gas Reporter - April 2021 - 33
American Oil and Gas Reporter - April 2021 - 34
American Oil and Gas Reporter - April 2021 - 35
American Oil and Gas Reporter - April 2021 - 36
American Oil and Gas Reporter - April 2021 - 37
American Oil and Gas Reporter - April 2021 - 38
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American Oil and Gas Reporter - April 2021 - 40
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American Oil and Gas Reporter - April 2021 - Cover3
American Oil and Gas Reporter - April 2021 - Cover4
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