Diamondback Energy Announces Share Repurchase Agreement with SGF FANG Holdings, LP

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announced a letter agreement with SGF FANG Holdings, LP. The agreement allows SGF to sell up to 3,000,000 shares of Diamondback common stock per quarter through December 31, 2026, at the most recent NASDAQ closing price. Additionally, Diamondback agreed to repurchase 2,000,000 shares from SGF at $152.59 per share, utilizing its existing share repurchase program. This repurchase is part of a larger program that has seen Diamondback repurchase 2,886,280 shares since September 30, 2025, for a total cost of $432 million.

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About Diamondback Energy Inc.

Diamondback Energy Inc. is a publicly traded company that engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas. Its primary function is to extract hydrocarbon resources, which includes both crude oil and natural gas, through advanced drilling and recovery techniques. Diamondback Energy leverages its extensive portfolio of assets across the prolific Permian Basin, which is renowned for its rich oil and gas deposits and low-cost production benefits. The company plays a significant role in the energy sector by providing essential natural resources that fuel modern economies. Its strategic focus on high-margin assets and efficient operational practices make it a notable player in the United States energy market. Diamondback's operations impact sectors involved in energy supply, industrial production, and transportation. Headquartered in Midland, Texas, Diamondback Energy is committed to sustainable growth and maximizing shareholder value, ensuring its ongoing contribution to the energy landscape and the broader commodities market.