Diamondback Energy’s Acquisition of Rattler Midstream

Akin Gump Strauss Hauer & Feld LLP advised Diamondback Energy on the deal.

Diamondback Energy, Inc. announced that it has entered into a definitive agreement with Rattler Midstream LP to acquire all of the publicly held common units representing the limited partner interests in Rattler not already owned by Diamondback and its subsidiaries.

The agreement provides for an all-stock transaction whereby each public unitholder of Rattler would receive 0.113 of a share of common stock in Diamondback in exchange for each Rattler common unit owned. The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions.

The Akin Gump team was led by corporate partners John Goodgame (Picture) and Lisa Hearn, with assistance from counsel Leana Garipova and associate Anthony Hilbert. Partner Alison Chen advised on tax matters, and corporate partner Alan Laves and counsel Katie Dinett advised on debt matters related to the transaction.

Involved fees earner: Alison Chen – Akin Gump Strauss Hauer & Feld LLP; Katie Dinett – Akin Gump Strauss Hauer & Feld LLP; Leana Garipova – Akin Gump Strauss Hauer & Feld LLP; John Goodgame – Akin Gump Strauss Hauer & Feld LLP; Anthony Hilbert. – Akin Gump Strauss Hauer & Feld LLP; Alan Laves – Akin Gump Strauss Hauer & Feld LLP; Lisa Leiman Hearn – Akin Gump Strauss Hauer & Feld LLP;

Law Firms: Akin Gump Strauss Hauer & Feld LLP;

Clients: Diamondback Energy, Inc.;

Martina Bellini

Author: Martina Bellini