Guidon is a Dallas, Texas-based oil and gas company. Guidon was formed by Blackstone earlier this year in order to back a veteran oil and gas operating team led by Jay Still, a former Executive Vice President of Pioneer Natural Resources and more recently President & COO of Laredo Petroleum, where he and his team achieved significant operational and technical success in a safe, environmentally responsible, efficient, and commercial manner in the Permian Basin.
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Diamondback Energy has entered into a deal to acquire all assets of Guidon Operating LLC for $375 million in cash and 10.63 million shares of Diamondback common stock, with a total deal valuation of $862 million. The deal will add 32,500 net acres in the Northern Midland Basin and 3Q20 production of 17.9 Mboe/d (11.6 Mbbl/d in oil.) Closing is targeted for late-February 2021.