Diamondback Nears Acquisition of Double Eagle V for About $5 Billion

John Kim

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Diamondback Nears Acquisition of Double Eagle V for About $5 Billion

Double Eagle V is backed by EnCap Investments and has oil and gas holdings in Texas’ Permian Basin.

By John Kim

Published Nov 15, 2026, 3:25 PM EST

A pumpjack stands over scrubland in the Permian Basin / TokenPost.ai

Diamondback Energy is nearing a roughly $5 billion acquisition of Double Eagle V, an EnCap-backed company with oil and gas holdings in Texas’ Permian Basin.

Double Eagle V is backed by EnCap Investments.

John Kim

John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.