Diamondback Energy Said to Explore Sale of West Permian Assets

Diamondback Energy Inc. is looking to sell non-core assets in the western Permian Basin as the oil producer looks to cash in on an increasingly active deal market in US shale.

The company is working with a financial adviser to seek a buyer for assets around Pecos County, Texas, according to people familiar with the matter, who asked to not be identified because the process is confidential. No final decision has been made and Diamondback could opt to hold onto the assets, the people added.

The move makes strategic sense and would enable the Midland, Texas-based explorer to cut debt ...