Diamondback Energy Announces Pricing of Senior Notes Offering

Details

priced an offering of $1.2 billion in aggregate principal amount of 5.550% senior notes due 2035. The notes will be used for general corporate purposes, including funding a portion of the acquisition of Double Eagle IV Midco, LLC's subsidiaries. The offering is expected to close on March 20, 2025, subject to customary conditions.

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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.