Diamondback Energy Inc. will acquire privately held Ajax Resources LLC, Houston, in a cash and stock deal valued at $1.25 billion, bringing its total leasehold interests to 230,000 net surface acres in the Permian basin.

    For $900 million cash and 2.58 million shares of Diamondback common stock valued at $345 million, the Midland, Tex.-based company will add 25,493 net acres and 12,100 boe/d of production, of which 88% is oil.