Diamondback Energy Appoints Darin G. Holderness to Board of Directors

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appointed Darin G. Holderness to its Board of Directors, expanding the Board to 13 members. Mr. Holderness, with over 30 years of experience in the energy sector, notably served as Chief Financial Officer at P&A Exchange LLC and ProPetro Holding Corp. He also joined the Audit Committee. The appointment was in accordance with the Stockholders Agreement and was announced via a press release. Exhibit 99.1 provides further details on the appointment and Mr. Holderness's background.

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Exhibits (1)

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.