The acquisitions are a bet by Midland, Texas-based Diamondback on the resilience of the shale sector. (Bloomberg) — Diamondback Energy Inc. rounded off a tumultuous year for the U.S. shale industry with the acquisition of two rival producers for about $1.4 billion that will expand the company’s position in the Permian Basin. Diamondback said Monday in a statement it agreed to buy shale oil and natural gas producer QEP Resources Inc. The all-stock deal values QEP at $2.29 per share, or about $555 million. In a separate statement, Diamondback said it agreed to purchase closely held Guidon Operating LLC. That cash-and-stock deal values Guidon, which was co-founded in 2016 by funds managed with Blackstone Group, at about $862 million. The acquisitions are a bet by Midland, Texas-based Diamondback on the resilience of the shale sector, whose production has dropped this year following the collapse of oil prices. The deals […]