Diamondback Energy has entered an agreement to acquire Energen for $9.2bn.

The transaction also includes the assumption of Energen’s net debt of $830m.

Diamondback will issue 0.6442 common stock shares for each share of Energen common stock, as per the agreement. Diamondback shareholders will own 62%, while Energen shareholders will hold 38% of the combined entity.

The acquisition will add 96,000 net acres in the Permian Basin and 179,000 net acres in the Midland and Delaware basins to Diamondback’s portfolio.

The transaction is expected to be closed in the fourth quarter of 2018, subject to regulatory approvals.

“The acquisition aims to strengthen and expand Irving Oil’s business operations across the Atlantic basin.”

Diamondback previously announced its plans to acquire Ajax Resources for $900m in cash and 2.58 million shares of common stock.

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Energen is an oil and gas exploration and production company, while Diamondback is an independent oil and natural gas company.

Both the companies involved in the transaction are based in the US.

Irving Oil has entered an agreement to acquire the Tedcastle group of companies operating as Tap Oil.

Tap Oil is a leading Irish supplier of oil and aviation fuel, while Irving Oil is a Canada-based company engaged in energy processing, transporting and marketing.

The acquisition aims to strengthen and expand Irving Oil’s business operations across the Atlantic basin.

High Arctic Energy Services (High Arctic) has purchased all of the shares of Powerstroke Well Control (Powerstroke) for $9.4m.

The acquisition will provide High Arctic with ownership of 17 snubbing units in Canada.

Based in the US, Powerstroke is a well service company, while High Arctic Energy Services is a Canadian oilfield services provider.

The acquisition will enable High Arctic to enter the US market and expand its geographic footprint. It will also increase the company’s snubbing and well service fleet.