Endeavor Energy Resources
Defunct company engaged in hydrocarbon exploration
From Wikipedia, the free encyclopedia
Endeavor Energy Resources was a company engaged in hydrocarbon exploration. It was one of the largest private oil producers in the contiguous United States.[1] In September 2024, it was acquired by Diamondback Energy.
| |
| Type | Defunct |
|---|---|
| Industry | Oil and gas |
| Founded | 1979 |
| Founder | Autry Stephens |
| Defunct | September 11, 2024 |
| Fate | Acquired by Diamondback Energy |
History
The company was founded in 1979 by Autry Stephens. The company's first purchase was 80 acres of land on which it drilled its first well, McClintic B-30 #2, in the Spraberry Trend.[2] It grew by acquiring tough-to-drill wells that other companies did not want.[3]
In 2005, the company acquired Perenco Energy (later LCX Energy).[2][4]
In April 2017, the company launched a $300 million joint venture with a subsidiary of Ares Management.[5]
After Stephens was diagnosed with prostate cancer, he sold the company to provide liquidity for his family.[3]
After an auction process, in September 2024, one month after Stevens died, Diamondback Energy acquired the company for $26 billion.[6][7][8]