Diamondback Energy and QEP Resources completed the merger. QEP shareholders received 0.05 shares of Diamondback for each of their shares, the equivalent of $2.29 per share. They now own 7.2 percent of the combined company.

QEP Resources' GAAP net income for 2020 was $3.2 million, compared to a loss of $97.3 million in the previous year. Revenue decreased 40% to $0.724 billion from $1.206 billion a year earlier.

Diamondback Energy and QEP Resources entered into a merger agreement based on the latter's valuation of $2.2 billion, including net debt of $1.6 billion. QEP Resources is engaged in the exploration and production of crude oil and natural gas. Under the terms of the agreement, its shareholders will receive 0.05 Diamondback shares for each of their shares, the...

Net profit of QEP Resources under GAAP for 9 months of 2020 amounted to $133.8 million, having increased by 10.2 times compared to $13.1 million in the previous year. Revenue decreased 40.7% to $524.2 million against $884.3 million a year earlier.