Diamondback Energy Completes $1.2 Billion Senior Notes Offering

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successfully completed its underwritten public offering of $1.2 billion aggregate principal amount of 5.550% Senior Notes due 2035. The Notes were issued under the Company's Indenture and are the Company's and its subsidiary guarantor's senior unsecured obligations. The Company may redeem the Notes prior to January 1, 2035, at a redemption price calculated according to the Indenture. The Indenture includes customary terms and covenants, including restrictions on incurring liens and on consolidating or merging with or into, or selling, conveying, transferring or leasing all or substantially all of the Company's properties and assets on a consolidated basis to, any person. A legal opinion regarding the legality of the Notes was also filed as part of the offering.

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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.