QEP Resources: Midland oil and gas producer Diamondback Energy acquires rival QEP Resources | News Break

Diamondback Energy has completed its all-stock purchase of rival QEP Resources, strengthening its position in the prolific Midland Basin of West Texas. The Midland oil and gas producer on Wednesday said it acquired the Denver-based QEP Resources after QEP stockholders approved the deal on Tuesday. QEP stockholders received 0.05 of a share of Diamondback stock for each share of QEP stock.