05:05 PM EDT, 06/03/2024 (MT Newswires) -- Diamondback Energy ( FANG ) and Five Point Energy's Deep Blue Midland Basin joint venture said Monday it acquired Lagoon Operating - Midland.

The Lagoon assets include 105 miles of large diameter pipeline, 240,000 barrels per day, or bpd, of disposal capacity, and 544,000 bpd of additional permitted disposal capacity, according to the company.

Financial terms of the transaction were not disclosed.

Price: 190.74, Change: +0.03, Percent Change: +0.02