Diamondback Energy eyes Endeavor Energy purchase

Diamondback Energy is attempting to buy rival Endeavor Energy Resources to create an energy giant in the southwestern U.S. worth more than $50 billion.

A tie-up between Diamondback and Endeavor, if it succeeds, would create the third largest producer in the Permian Basin behind Exxon and Chevron, overseeing 838,000 acres and potentially producing 816,000 oil-equivalent barrels each day. Read more about the deal.