Even Diamondback Energy Inc. (NASDAQ: FANG) isn’t immune to the siren song of the Delaware Basin, with the company making its latest, largest splash in a $2.43 billion deal.

In its second Delaware deal, Diamondback, based in Midland, Texas, said Dec. 14 it entered a definitive purchase agreement for all of Brigham Resources Operating LLC’s leasehold interests and related assets. The transaction will include Brigham Resources Midstream LLC. The transaction will include Brigham Resources Midstream LLC. Brigham is backed by Warburg Pincus LLC and led by former executives at Brigham Exploration Co., which was purchased in 2011.

Diamondback’s second foray into the Delaware will add mostly operated leasehold interests on 76,319 net acres in Pecos and Reeves counties, Texas. The company said the acreage is in the highest oil content region of the Delaware.

The transaction price equates to about $27,000 per acre, adjusted for proved developed producing reserves, “which is in line with recent core Delaware-Permian transactions,” said Scott Hanold, an analyst at RBC Capital Markets LLC. “To our knowledge, this was one of the last remaining large private operators in the Delaware Basin.”

Prior to the acquisition, Diamondback's holdings in the Southern Delaware consisted of 19,000 net acres and 611 gross locations following its deal to buy Luxe Energy LLC’s holdings in September.

Diamondback plans to add two operated rigs to the acreage in 2017.

After close, the company will hold total leasehold interests of about 182,000 net acres in the Permian Basin.

Diamondback will pay for the transaction with $1.62 billion in cash and 7.69 million shares of Diamondback stock valued at $809.6 million, based on its closing stock price Dec. 13 of $105.28.

The transaction is expected to close at the end of February, with an effective date of Jan. 1.

Diamondback said the transaction would be immediately accretive. Brigham’s holdings target the Wolfcamp A, Wolfcamp B, 3rd Bone Spring and the 2nd Bone Spring.

The Wolfcamp A and B acreage puts six wells to a section at 880 ft. The 2nd and 3rd Bone Spring consists of four wells per section with 1,320-ft inter-lateral spacing. The company said downspacing potential may exist.

By closing, the acreage will contain an estimated six drilled but uncompleted (DUCs) wells.

With the acquisition, Diamondback raised its 2017 capex guidance range nearly 40%, to a midpoint of $800 million from its earlier estimate of $575 million.

Diamondback also expects to spend up to $75 million on infrastructure investments in the Delaware in 2017. Existing infrastructure to be acquired from Brigham is valued at about $50 million.

Vinson & Elkins advised Brigham in the sale of its interests and related assets. Kirkland & Ellis LLP advised Warburg Pincus.

Darren Barbee can be reached at dbarbee@hartenergy.com.