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

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/57900
Published: 2026-11-15T20:25:02.000Z
Updated: 2026-11-15T20:25:02.000Z
Section: Business

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

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.